$2.3M Multi-Family Acquisition in San Antonio, Texas
14 September 2022 · 3 min read
Today’s Deal Spotlight takes us to San Antonio, Texas, and centers on the $2.31 million acquisition of multi-family property. Our client was clear on what they wanted most from this deal, but it couldn’t be facilitated with their current contacts. Team TDC stepped in to find alternatives for who would play ball.
What We Were Up Against
Our client wanted two units added to the property post-deal, and Terrydale had to ensure the lender would provide a budget to cover CapEx improvements. The insurance company they previously utilized was also quoting them far above the market rate, so a new group and better deal had to be sourced without moving the closing date. Market comps were further required to secure the required loan dollars.
What Our Team Helped Turn Around
We immediately began tackling this deal on multiple fronts, working to provide the appraiser with a CapEx budget that supported the relevant comps and reaching out to an established insurance group relationship to make strides towards a competitive quote. With all the pieces in place to support the desired evaluation, we brought things to a close on the following terms:
- A $2,310,000 Loan Acquisition (with Acquisition + Capex budget fully funded)
- 4.25% Fixed Interest Rate
- 5-Year Loan Term
- 30-Year Amortization
- 75% LTV
When it comes to commercial real estate financing, Terrydale Capital is the number one partner and advocate an investor can have on their side. We prioritize competitive terms and client success regardless of deal size and complexity and elevate the resources and decision-making processes available to new and experienced investors.
Want exclusive opportunities to boost your current portfolio? Visit terrydalelive.com.
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