ASSIGNMENT:

This was a purchase transaction for a borrower who was in a 1031 exchange. We were also handling the financing for the buyer of their downleg property.

CHALLENGE:

The subject property being financed was actually a very straight forward type transaction with no real red flags, the biggest challenge was the downleg sale for it t had much more complications, but fortunately ALB was handling the financing for the buyer who was purchasing the downleg property. Having ALB involved in both transactions benefited everyone.

SOLUTION:

ALB had structured a great loan for the borrower's and the property had qualified for an affordable housing discount which equated to an additional 10 basis points discount in the rate. Got to say we were happy to get this deal closed. The whole daisy chain was very stressful but we kept our heads together and remained focused to the task and got everyone to the finish line.