$1.6 Million Student Housing Acquisition | Boston, MA
19th January 2023 · 3 min read
Today’s Deal Spotlight centers around a student housing acquisition in Boston, MA. Due to the current volatile market, our borrowers needed an expedited closing and additional funds for the construction of new units, so it was critical projection costs were in line to get this deal funded.
What We Were Up Against
Obstacles were present as the borrowers were planning to add additional unts, which added to the complexity of the deal. However, our team was able to come up with a solution in the form of a prior lending relationship.
What Our Team Helped Turn Around
Relationships in this business mean everything. The TDC team had recently closed the property next door to the subject property, with the same exact borrowers. With familiarity on our side, we were able to utilize the same lender as our previous next door transaction without any revision to our original terms. This led to a seamless closing in under 30 days with the follow terms:
- $1,625,000 Loan Amount
- 75% LTC
- 18 Month Term + 6 Month Extension
- Closed in 30 days
- Capex Fully Funded
As an industry leader in commercial real estate financing, Terrydale Capital is dedicated to being the number one partner and advocate for our clients. We understand that every deal is unique, and we strive to provide the best terms possible, regardless of size or complexity. We also provide investors with the tools and support they need to make informed decisions and achieve success
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