4-Unit Retail Cash-Out REFI | Dallas, Texas
13 October 2022 · 3 min read
Today’s Deal Spotlight highlights the cash-out refinance of a 4-unit retail CRE asset in Dallas, Texas. During market uncertainty with increasing interest rates, our client wanted to pursue maximum leverage on this request. This was a challenge we were willing to take on.
What We Were Up Against
With one of the four leases for the units fast approaching expiration, we needed to close as soon as possible or risk potential changes to the deal structure. To add to the pressure, as we were nearing the deadline, a storm caused significant damage to the asset’s parking lot.
What Our Team Helped Turn Around
From the outset, we began working to get the appraiser and lender comfortable with the market demand for the space by working with the broker to provide rental comps. By leveraging our banking relationship, we were also able to secure 75% leverage on the cash out refinance request. In just 25-days, with no delays or holdbacks from the parking lot repair, our satisfied client was able to close on the following terms:
- A $1,100,000 Cash-Out Refinance
- 6.00% Fixed-Interest Rate
- 5-Year Loan Term
- 25-Year Amortization with 75% 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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