$3.4MM Multifamily Property Acquisition

Date:
January 15, 2014
Property Type:
Multi-Family
Loan 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

Loan Terms:
$3,400,000 MULTIFAMILY ACQUISITION, 5.73%, 10-YR FIXED TERM, 30-YR AMORTIZATION

Contact one of our experienced Commercial Loan Advisors at (800) 341-6199