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Commercial Mortgage Lenders- Burbank Apartment Refinance

Commercial Mortgage Lenders- portfolio apartment refinance

Commercial mortgage broker Financial Compound has arranged has arranged a $1 million refinance for a 1950’s built multifamily property.  The class-B property consists of a 2-story, 20-unit building plus 5 free standing cottages.  The borrower desired a few customized features in the loan making the loan unsuitable for agency or securitization lenders, including special provisions related to non-monetary defaults and borrower’s cure rights.  As a result, Financial Compound directed this transaction to portfolio commercial mortgage lenders.  Loan terms included   (1) Rate: 12 MAT + 2.70% (Floor: 2.70%, Cap: 8.96%); (2) Term/Amort: 30/30; (5) Non-recourse; (6) Lender Fee: Par; (7) Prepayment: By year–3.0%, 2.8%; 1.6%, 0.4%, 0.2%, then open to prepay.  Borrower may convert to fixed at then-prevailing rates.

This transaction represents another commercial mortgage broker Financial Compound deal for a repeat client where Financial Compound was able to work with commercial mortgage lenders to customize the transaction according to the borrower’s specifications.  Many of our deals are for repeat clients who do all of their real estate financing through us.  Most of our marketing has been through word of mouth referrels.