112 Units- Multifamily Property

Another Successfully Funded Loan

  • $14,611,000
  • 7 Year fixed @ 3.92%
  • • Purchase-64% LTV
  • 112 Units- Multifamily Property Long Beach, Calif.

ASSIGNMENT:

This one was a lot of fun! A purchase transaction of a building that had so much upside to it in many ways but was going to require some big dollars to be invested into the building after close of escrow. Sellers had completed renovations on 60% of the units.

CHALLENGE

Was big price tag on the building for the clients and they needed as much leverage as possible to get in, and then the buyer needed to still have funds so they could make the cap ex improvements that they wanted after close of escrow, and they needed to go stated.

SOLUTION:

We structured a low doc program and seller had agreed to raise rents on many of the units which helped out tremendously. Deal closed on time. Took clients a year tomake improvements but this is now a class A property, generating great income- A KEEPER.

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ALB Commercial Capital

Office: (626) 296-7777
Toll-Free: (800) 510-2214 Fax: (626) 296-7771
Email: Info@albcommercialcapital.com

Headquarters

2476 Lake Ave Altadena,Ca. 91001

ABOUT US

We are industry experts dedicated to providing our clients the best loan programs, unparalleled service and certainty in execution
Cal BRE License #01379610
www.albcommercialcapital.com

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Adress:

Headquarters
2476 Lake Ave.
Altadena CA 91001 USA

Phone:

Office : (626) 296-7777
Fax : (626) 296-7771

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