May 27, 2021 3 Min read
Today’s deal spotlight centers on the acquisition of a multi-family property in Waco, Texas. This was a rather intricate assignment, with the Borrowers seeking Agency experience and Fannie Mae Green Program status. Consequently, a significant amount of underwriting and detailed processing was required with no room for error.
There were many challenges, most of which had to be addressed simultaneously:
Team TDC’s understanding of the market was critical in bringing this deal to a close. We assisted in providing a program to mitigate a market concern that increased proceeds and lowered the rate, brought in a creative mezzanine option that added $1.5 million within a very short time frame prior to close date, approval from our first position lender with last minute changes to the loan structure, assisted in organizing the team to obtain a rate-lock timely before treasury rate increases, went onsite to meet with all parties multiple times, we had all hands on deck communicating and coordinating and pushed through with the following terms:
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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