Commerical Loan Details


Date: January 15, 2014
Title: $3.4MM Multifamily Property Acquisition
Practice Type: Multi-Family
Loan Terms: $3,400,000 MULTIFAMILY ACQUISITION, 5.73%, 10-YR FIXED TERM, 30-YR AMORTIZATION

Scenario: Principal approached 1st Commercial Looking to purchase a 52-unit Apartment Building Complex in Naples, FL. It was a requirement of the principal that the loan not have a balloon payment.

Conventional Loan Structured:

Financing structured to acquire the building with 35% capital injection with a 10-Year Fixed Term and 30-Year Fully Amortized Loan (no balloon).

Closed: 1/15/2014

   

 


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