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

8 Units Multifamily

Another Successful Funded Loan

  • $1,000,000
  • 5 Year Fixed @ 3.550%
  • C/O Refinance - 48% LTV
  • 8 Units
  • Multifamily Property
  • Long Beach, CA

ASSIGNMENT:

A past client returned to have a refinance this apartment building and secure best financing for him. :)

CHALLENGE:

The team at ALB Commercial Capital had no real big challenges with the transaction. Everything went smoothy the borrower even went on a trip while we were in the process upon return, he was eager to go get himself another racey sportscar so we just needed to keep reminding him to please wait until we finished up the financing on the apartments and then he could go on a shopping spree, LOL! Real Great guy hope we work again with him soon.

SOLUTION:

The existing first trust deed had a prepayment penalty but the Loan Officer at ALB Commercial Capital was able to negotiate with the lender majority forgiveness on the prepay and secured great financing terms for the borrower.