75% LTV Car Wash in Tyler, Texas
24 Feb, 2022 · 2 min read
Today’s Deal Spotlight takes us to Tyler, Texas, and centers on the purchase of a Car Wash. With the client’s previous lender having backed out, our clients were on a time crunch. As always, Team TDC was quick to jump into action.
What We Were Up Against
With a shorter window of time to close, we needed to get negotiations underway as quickly as possible to meet the clients targeted closing date. Additionally, our client wanted a minimum amortization of 15 years, which due to the location and vintage, several lenders were asking for shorter Amortization periods.
What Our Team Helped Turn Around
Through carefully managed communication and negotiation, we not only closed within 30 days of the engagement but managed to increase leverage to 75% and get a 20 Year Amortization. The deal came to a close with the following terms:
- A $862,500 Loan Amount
- 4% Fixed Rate
- 20-Year Amortization
- 75% LTV
- 5-Year Term
The team at Terrydale Capital consistently goes above and beyond to secure the best possible refinancing terms for our clients. Whether your deal is a standard acquisition, a complicated beast requiring extra negotiation and managed communication, or something in-between, we have ways to help. Give us a call right now to see what we can do for you.
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