ASSIGNMENT:

This was a little bit of an unexpected refinance for a past client since we had just recently financed less than 90 days ago for the investor when they purchased the building. However, because of tax planning they needed to refinance into a different entity before the year end.

CHALLENGE:

We had to do a swapping of the primary borrower's and create a new entity, but fortunately were able to use the old appraisal and environmental reports and we had to close quick.

SOLUTION:

We worked everything out with the existing lender and they were great in helping streamline the process to keep it as inexpensive as possible for the clients. We also were able to get the rate lowered by over 50bps. Great clients hope to work with them again.