Land Acquisition in Temple, Texas
Today’s Deal Spotlight centers on the acquisition of a land asset in Temple, Texas. While this was one of Terrydale Capital’s more straightforward deals with no surprises from start to finish, it’s also another successful close in our rapidly growing portfolio.
What We Were Up Against
With a hard 2-week deadline and no room for flexibility in the contract timing, our borrower wanted a financing firm that could ensure things went right the first time. They also needed both title and lender flexibility for a simultaneous closing, and for the lender to value their land above a specific threshold for it to go through.
What Our Team Helped Turn Around
Team TDC coordinated and facilitated a multi-contract closing within the specified time frame – one that met the minimum land value due to our negotiations with the appraiser. In short order, we closed on the following terms:
- A $2,140,000 Acquisition
- 10.25% Interest Rate
- 24-Month Loan Term
- Interest Only
- Only $1,950 due at closing from Borrowers
- No Exit Fee or Prepayment Penalty
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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