Recent Closing of Mismanaged Apartment Building with a lot of Deferred Maintenance

[Dee Duncan]

am Happy to Share and Announce the recent Closing of a Property near Irving Texas.

We helped an owner stabilize his asset that was spiraling out of control due to hiring the wrong management company. The asset was a 70+ unit Apartment Building in need of immediate maintenance. For example Broken Walkways around the property,the entire building needed to be repainted and The pool was not in operation. These are just some of the issues the client was facing.

No lender would give a loan on the asset. We were able to help him stabilize the property by providing a Bridge Loan. With the following Terms

• 1 year Bridge Loan $3,000,000
• No Pre-Payment Penalty & No exit Fee
• 9.5 Interest rate plus 1.5% Origination Fee
• Closed Deal in 15 days

Client has already been Pre-Approved with us for permanent FHA Financing based on a contingency that all maintenance issues are resolved.

If you have issues with your asset or simply need to reposition debt fee free to contact me.