Three adjacent duplexes in Jacksonville's Riverside neighborhood totaling 6 leased units.
LOAN AMOUNT
$820,000
Borrower wanted a single blanket loan rather than managing three separate mortgage notes.
Structured a single $820,000 blanket DSCR facility with cross-collateralization and release clauses.
The Outcome
Simplified borrower's balance sheet into one monthly payment while reducing closing costs by $14,000.
Deal Highlights
LOAN AMOUNT
$820,000
APPRAISED VALUE
$1,095,000
MONTHLY RENT
$7,400
DSCR RATIO
1.31
LTV
75%
CLOSING TIME
24 Days
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