Student Housing Refinance In Fort Worth, TX
09 September, 2021 · 2 min read
Today’s Deal Spotlight centers on the refinance of a student housing property in Fort Worth, TX. As an out-of-state borrower, our client wanted to work with an experienced firm that could secure a competitive product. TDC answered the call.
What We Were Up Against
Because the asset was used for student housing, additional underwriting measures were necessary to increase the accuracy of the risk assessment. The property owners had also entered a tenancy in common (TIC) arrangement, so more variables were affecting the underwriting process.
What Our Team Helped Turn Around
Due to the added complexity, Team TDC spent extra time with the borrower and lender, managing communications to minimize confusion/delays and stay on schedule. After outlining consistencies in the occupancy levels of the property and immediate areas, we mitigated concerns enough to close on the following terms:
- A $682,500 Refinance
- 4.25% Fixed Rate
- 5-Year Loan Term
- 30-Year Amortization with 75% 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.
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