Nebraska Multi-Family Acquisition
03 June, 2021 · 3 min read
Today’s deal spotlight centers on the acquisition of a $4,490,000 multifamily property in Omaha, Nebraska. This specific Apartment Complex caught the attention of our Clients, who were out of state and needed an experienced team to step up and close the gap.
What We Were Up Against
Team TDC faced several obstacles throughout this deal:
- Our clients were out-of-state
- This was only their second deal in a Key Principal capacity.
- Treasury rates were spiking
- There were last-minute changes to the sponsorship.
What Our Team Helped Turn Around
We took a very hands-on approach to this acquisition, preparing reports and presentations to overcome historical credit and legal issues, managing communication with the Lender and Underwriters, and guiding the Borrowers at every stage. Rate-locking at a critical 4-week low point in the treasury rate, the deal was closed on the following terms:
- $2,947,000 Loan Amount
- 4.25% Fixed Interest Rate
- 5 Years Interest Only
- 10-Year Loan Term
- 30-Year Amortization with 65% LTV
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.
Your Success is our Priority!
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