A two-building 12-unit apartment property in central Fort Lauderdale with long-term tenant stability.
LOAN AMOUNT
$2,750,000
Maturing balloon mortgage required fast takeout to avoid lender default penalties.
Originated a $2,750,000 30-year fixed commercial DSCR refinance in 21 days with zero tax returns.
The Outcome
Secured low long-term fixed rate and extracted $320,000 in liquidity for sponsor's next acquisition.
Deal Highlights
LOAN AMOUNT
$2,750,000
APPRAISED VALUE
$3,700,000
MONTHLY NOI
$21,500
DSCR RATIO
1.32
LTV
74%
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