34 Units- Multifamily Property

Another Successfully Funded Loan

  • $2,145,000
  • 5 Year fixed @ 5.10%
  • Purchase-70% LTV
  • 34 Units- Multifamily Property San Bernardino, Calif.

ASSIGNMENT:

Client was in an exchange on a couple sold buildings he owned in Los Angeles together with a partner. They decided to split and go their separate ways. Our Borrower then brought in additional partners for this new purchase.

CHALLENGE

Client had to form a disregarded entity to satisfy his exchange, but then an additional LLC needed to be formed between him and his new partners,they were bringing in funds but did not want to go on the loan. Our borrower was named managing Partner needed a Low Doc Loan.

SOLUTION:

The transaction was structured as a Tic and we were able to offer to the buyer/borrower a stated loan program with no tax returns required. All other contributing members of the new LLC were not required to be guarantors to the loan. Everyone was Happy.

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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

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www.albcommercialcapital.com

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Headquarters
2476 Lake Ave.
Altadena CA 91001 USA

Phone:

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

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