Multifamily refinanced at 10 years interest only & 3.06% fixed rate
Need a favorable loan for a long term hold in your portfolio? We got you covered.
“Our client was facing an agency loan maturity on an apartment complex that had been in their portfolio for years. The client was focused on wealth preservation and locking in a loan that will carry the property into the next decade at favorable terms and provide cash flow. We were able to secure an extremely competitive rate with full term interest only for 10 years.”
-Chris Miller
Deal Quick Look:
10-year Fixed Rate Term
10-year Interest Only
Rate in the low 3’s
The Property: The subject asset consists of a 112 unit garden style apartment complex built in the late 1970’s. The property is well located and situated on 7 acres. The long term owners of 20 years have maintained the property well and enjoy a high rate of resident retention.
The Challenge: The borrower was seeking a full term interest only loan to maximize cash flow and lock in an attractive rate that aligns with their strategy of long term ownership.
The Solution: Chris Miller, Managing Director, placed the debt with a national lending institution that is part of our NNN lender network. The lender recognized the strength of the asset and borrower and offered compelling terms that ultimately won the financing for this transaction.
