We have been fortunate to have worked with these particular clients on so many transactions over the years but this one had some sentimental value for us. Years ago when our clients came to this country they had lived in one of the units, it was their first home here in the USA. Several years later they are now purchasing the building adding it to their already impressive portfolio. How do you like them apples! America is definitely the land of opportunity!
The transaction went smooth, our biggest challenge was actually in the refinance that we were completing for the buyer. Although they were in a 1031 exchange for this purchase, the borrower's requested that we complete their refinance first.
We closed the borrowers refinance and we also had the purchase of the subject property approved and docs ready and signed 15 days ahead of schedule. Unfortunately, we had to wait until the close date before we could close, because the seller did not want to close early.