This was Purchase transaction financing that we structured for a VIP client. The listing agent was also a client that we have worked with on multiple transactions.
The transaction had no real challenges to it. The only item that we had to consider was that we had to wait for the most recent rent increase notices to go into effect since this was the number used for underwriting maximum loan dollars.
ALB structured a low doc non-recourse loan with 5 yrs of fixed rate and interest only for the first 5 years which really helped out in cash flowing on the property. The deal closed on time and no hiccups whatsoever. Certainty of execution is what you get when you choose ALB Commercial Capital.