Aug 28, 2023 3 Min read
Terrydale Capital has seen nearly every kind of situation under the sun when it comes to deals, which makes us uniquely prepared to tackle even the most unique cases. When the borrower came to us in the wake of inheriting a property, we were prepared to spring into action. Today’s Deal Spotlight centers on a successful cash-out-refinance of a retail asset in Dallas, Texas
The borrower came to Terrydale Capital in the wake of inheriting some properties seeking to pull out at least $240,000 cash from one to put toward renovating the other that they also inherited. Due to the properties being inherited, we had to help the borrower establish a new LLC and finalize probate. The borrower was also new in the commercial real estate industry, which required some extra guidance through the process and organization of documents.
Our team put on their negotiating hats and were able to successfully negotiate an interest rate 1.58% lower than the 8.00% Prime Rate. We also managed communication with the lender and borrower to ensure a timely close amidst market uncertainty. Through our negotiation we were also able to get the client an additional $20,000 more on the cash-out than we initially penciled in for them. Ultimately we were able to secure the following terms:
Terrydale Capital is posed to tackle any kind of deal that comes through our doors, challenges and all. We pride ourselves on being able to guide even our clients, even those new to the industry, to success and secure the most competitive terms by utilizing our wide breadth of lender and industry connections. When you need a partner to go to bat for your cash-out-refinance, the Team at Terrydale is the right choice, and now it is easier than ever to have the Team in your corner with Terrydale Live. Contact us today!.
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