ASSIGNMENT:

A past client referred us two new investors who were interested in buying his apartment building that we had previously financed for him.

CHALLENGE:

The borrowers were a bit challenged globally and because this was their first Apartment Building it added some additional caution on lenders part.

SOLUTION:

We added one of the investors wife to the transaction to make up for the shortfall in global and placed the borrowers into a no prepay program since it was believed that they may sell in the near future as they mentioned they will want to move into a bigger property in a couple of years. We closed the transaction and are now working on a new loan for the seller on his identified upleg property.