Feb 12, 2021 2 Min read
Today’s spotlight centers on the successful acquisition financing of a multi-family property in Las Vegas that is 100% leased to military veterans. The master-leased multi-family asset required special attention throughout the process, and Terrydale Capital was up for the challenge.
Due to its master lease status, the Lenders were heavily focused on the rent roll and future management. The Appraiser also determined the property had a 25-year economic life instead of 30 and the Borrower’s level of activity in the market required the deal to be closed as soon as possible despite the extra diligence required in the scenario.
Using our all-hands-on-deck approach to negotiation, the TDC team structured six months of interest-only to offset the revised 25-year amortization period. Our Team's detailed rent roll analysis brought to light the length of tenancy per unit to boost the Lender’s confidence with new management, and by close we had:
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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