$9.3MM Multifamily Refinance | Garland, TX
Terrydale Capital
Nov 19, 2024 3 Min read
We at Terrydale Capital understand the value of cultivating relationships in the commercial real estate industry. When our client came to us seeking a refinance on their multifamily property in Garland, Texas that we previously helped them acquire, our team was more than happy to work with them towards success yet again.
What We Were Up Against
The borrower came back to Terrydale Capital knowing we could secure their success yet again with their property. However, that does not mean that the deal was without challenges. Initially, we had arranged an agency option but received significant proceed cuts due to overall property conditions not conforming with the agency requirements. Additionally, the loan maturity timeline was incongruent with the closing timeline.
How Terrydale Rose to Meet the Challenge
Our team sourced some alternative loan options that upheld the borrowers needs. With this, we were able to transfer the fifle swiftly upon term agreements. Our team leverages our existing relations with the lien holder to negotiate a loan maturity extension to allow adequate timing to close the refinance. We were able to secure the following terms.
- $9,300,000 Acquisition
- 12.00% Fixed Interest Rate
- 12-Month Term
- Full Recourse
- 68% LTV
In Closing
Terrydale Capital is posed to tackle any kind of deal that comes through our doors, challenges and all. We pride ourselves on being able to garner success for our clients and secure the best terms by utilizing our wide breadth of lender and industry connections as well as taking advantage of market opportunities when they come. When you need a partner to go to bat for your property acquisition, 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.
