$5.6M Multi-Family Acquisition in Waco, Texas
Terrydale Capital
Sep 15, 2022 2 Min read
Today’s Deal Spotlight centers on the $5.6 million acquisition of a multi-family commercial asset in Waco, Texas.
What We Were Up Against
Our client was on a strict timeline, requiring us to act fast to source a bridge lender with competitive rates enabling us to achieve the client’s goals. Upon taking on this challenge, our first hiccup was a capital expense budget that ended up being larger than was originally provided.
What Our Team Helped Turn Around
After being notified that our capital expense budget was being increased, we quickly arranged a call with all relevant parties to find a solution. While negotiating with both sides, the TDC team was able to source the necessary comps and documentation to retrieve some of the deducted loan proceeds. Due to our measured and timely response, the deal went through within the original timeline(29 Days) on the following terms:
- A $5,606,597 Loan Acquisition
- 6.62% Fixed Interest Rate
- 2 Years Interest-Only + Two 12-Month Extensions
- Non-Recourse & No Prepay
In Closing
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.
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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.
