ASSIGNMENT:

It's always a pleasure working for this investor. He had thought of selling this apartment building but had changed his mind and decided to keep it and do a cash out refinance and hoped to lower the interest rate. 

CHALLENGE:

No issues on this transaction. We had financed this building twice before and were very familiar with the apartments and the borrower. Everything went smooth. 

SOLUTION:

We maxed out on loan dollars and was able to offer a low 5 year fixed rate at the same time. Between the cash form this refinance and another we were handling concurrently we achieved the desired net loan proceeds.