Deal Spotlight- April 15th, 2021

Today’s deal spotlight focuses on the refinance of a retail property in Little Elm, Texas. The purpose of the loan was to pay off the existing debt and use cash-out proceeds towards improvements to the property. Terrydale Capital arranged financing with a Lender who offered additional proceeds to make property improvements and delivered competitive terms.

What We Were Up Against

The loan initially received some push back from Lenders due to a slight drop in spring 2020 sales due to short-term government-mandated closing due to COVID. In addition, the property needed to show well for third-party vendors to increase the likelihood of approval to refinance the existing debt.

 

What Our Team Helped Turn Around

By meeting with the Client and Lender before site visits to optimize the property for showing and communicating with the Lender to get them on board with projected income expenses, TDC closed on the following satisfactory terms:
  • 65% LTV
  • 4.00% Fixed Rate for 5-Years
  • 10-Year Loan Term (5+5)
  • 25-Year Amortization

The team at Terrydale Capital consistently goes above and beyond to secure the best possible refinancing terms for our clients. Are you dealing with issues related to market volatility during COVID-19? Worried about high fees and missing out on better options? We have ways to help. Give us a call and see what we can do for you.

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