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Deal Description
The client was in contract and intended to close with an agency loan, but the lender was short on proceeds. We brought a bank deal that offered more loan proceeds by underwriting to an IO period. We closed within 45 days.
Property Location
4901 Knollwood Road
Quick Stats
Partner Type
Credit Union
Program Type
Multifamily acquisition / Refinance
Program details
Acquisition
LTC: 65%
Rate: 6% fixed
Term: 3+1+1
IO period: 3 years
Partial recourse
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