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CLOSED: $5.725 million loan amount for rate/term refinance.
Property: Two self storage facilities, Miami, FL and Endicott, NY. Combined 181,919 SF. 10 year fixed, 30 year amortization.
Challenge: New York property was outside of large CBM and didn't have large cash flow. Several lenders wouldn't refinance it.
Solution: Combined both properties into one loan, interest rate in the 4's.
If you know of anyone who owns, or wants to own commercial property please let me know!
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