• (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

  • $1,300,000
  • 5 Year fixed @ 4.375%
  • Purchase-55% LTV
  • 8 Units
  • Multifamily Property
  • Long Beach, Calif.

ASSIGNMENT:

1031 Exchange purchase loan

CHALLENGE:

1031 deadline to meet and low rents from the property making financing difficult for the borrower.

SOLUTION:

Loan was expedited to meet the 1031 deadline. Loan proceeds maximized with lowest rate and DCR program at the time at a 1.15DCR. Higher rents were also considered in underwriting.