Multi-Family Refinance| Saint Joseph, Missouri
4 August 2022 · 3 min read
Today’s Deal Spotlight centers on the $2.9 million refinance of a multi-family commercial asset in Saint Joseph, Missouri. This 76-unit property was owned by multiple parties with our client aiming for a buyout.
What We Were Up Against
To ensure the refinance would deliver enough capital for the buyout, our client was depending on a sufficient appraisal value. However, the figure came in much lower than the necessary threshold.
What Our Team Helped Turn Around
Our team immediately reached out to negotiate higher leverage to offset the appraisal while ensuring the interest rate did not exceed our client’s desired threshold. After careful discussion and managed communication, we delivered a successful close that facilitated the partner-buyout with the following terms:
- A $2,900,000 Refinance
- 4.50% Fixed Interest Rate
- 5-Year Loan Term
- 25-Year Amortization
- 80% LTV
When it comes to commercial real estate financing, Terrydale Capital is the number one partner and advocate an investor can have on their side. We prioritize competitive terms and client success regardless of deal size and complexity and elevate the resources and decision-making processes available to new and experienced investors.
Want exclusive opportunities to boost your current portfolio? Visit terrydalelive.com.
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