• (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610
  • (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610

48 Units Multifamily

Another Successful Funded Loan

  • $5,427,000
  • 7 Year Fixed @ 5.770%
  • C/O Refinance - 66% LTV
  • 48 Units
  • Multifamily Property
  • Adelanto, CA

ASSIGNMENT:

This was a cash out refinance for a past client. Really a great guy that we were introduced to  by one of our top brokers.

CHALLENGE:

In 2024 this will go down as the most difficult transaction we have had for the year. It was a combination of the borrower's record keeping and the lender's demands. If you have ever been in a situation where you're so deep into something that you really have no other choice but to just continue, well that is how this transaction felt.

SOLUTION:

We kept our emotions in check and remained focused on the goal. We closed and at the end the borrower walked away with a nice sum of funds to invest into another transaction.  Sometimes when the stuff hits the fan it is when you see the real colors. We stood side by side with our borrower and together we closed this transaction.