$1.5MM Multifamily Acquisition in Austin, Texas
Terrydale Capital
Feb 27, 2024 3 Min read
When it comes to financing and maneuvering the lender space, it can be a challenge to balance the expectations of the client and the realities behind the minutiae of a deal. In these situations, it pays to have a team that is prepared to cover all bases during all phases of the transaction, and that is what Terrydale Capital did for our client. In this deal spotlight, we highlight how our team went to work for our client to secure their acquisition for their multifamily asset.
What We Were Up Against
The borrower came to Terrydale Capital seeking to fund the acquisition of a multifamily asset in Austin, Texas. However, at the outset, there were a couple of challenges that our team had to maneuver through. Firstly, we needed to manage the leverage the client wanted to bring to the table as they also wanted to achieve a rate at sub 10%. Additionally, the current property manager was providing a minor speed bump of which needed to be navigated.
How Terrydale Rose to Meet the Challenge
Our team went to work immediately. We combed the entire bridge market for a suitable lender for the asset type and the location. Once we zeroed in on a lender, we were provided a sub-10% rate but with a lower leverage point. Our client chose to go with the higher leverage point instead. The lender we worked with was one of our most trusted lenders which allowed us to execute swiftly and on the client’s terms. Ultimately, we were able to secure the following:
- $1,530,000 Acquisition
- 10.32% Interest Rate
- 2-Year Loan Term
- Interest Only
- 60% LTV
In Closing
When it comes to being prepared and covering all bases when investing in commercial real estate, it pays to have the right team behind you. When you need a partner to go to bat for you to ensure that your specific needs are taken care of, the Team at Terrydale is the right choice. Contact us today!
Partner With Terrydale Capital for Your Debt Financing Needs
When it comes to debt financing, understanding the right timing, process, and options is crucial. At Terrydale Capital, we provide a comprehensive range of commercial loan solutions tailored to meet your business's unique needs.
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Headquartered in Dallas, Texas, Terrydale Capital is a leader in commercial real estate financing. We have close relationships with the nation’s top banks, lenders & family offices allowing us to provide the most competitive financing solutions in the market.
