ASSIGNMENT:

This property was part of a portfolio of apartment buildings that we were refinancing for a past client. Goal was to get locked into a good rate and maximize cashout proceeds.

CHALLENGE:

There was nothing here on this transaction that the ALB team couldn't handle. It simply required attention to details, since we had multiple loans happening at the same time for the borrowers.

SOLUTION:

We were able to get the current lender to agree to waive their prepay, then we delivered a good rate with good terms, moving forward the new loan had no prepay penalty and we helped the client maximize the proceeds on this cashout. Once we close all of the refinances, we hope our clients find themselves another good investment property and we are ready to do this all over again.