Multi-Family 5 Property Portfolio – Refinance
Location:- Multi-City
Loan Amount:- $8,300,000
Private Capital Investors, recently funded an $8,300,000 Multi-Family 5 Property Portfolio loan, utilizing the Optigo Targeted Affordable Housing Express program to provide non-recourse funding for a refinance transaction of 5 apartment complexes.
1. Challenge
Our client was looking to refinance their portfolio of multi-family properties, but was unable to secure permanent financing because of the given reasons below:
- Government’s Housing Assistance Payments (HAP) contracts.
- Scattered real estate properties.
So, Why Private Capital Investors?
Because of our success rate in dealing with similar property issues, another direct lender referred the borrower to Private Capital Investors.
2. How do we Tackle the Challenge?
Since we have already worked on similar property issues, it was easy for us to secure financing on such projects. So, we decided to take this loan to Freddie Mac and place it with their new Affordable Housing Program.
3. Outcome
We were successful in securing the financing for our client within 90 days from start to finish. Given below are the highlights of our success
- We secured the loan within 90 days
- Smooth transaction
- We stopped our client from taking a hard money loan at 12% interest and helped them instead secure a loan in mid 4’s interest rate.
- In fact, we are able to save a lot of money on a monthly basis for our clients which puts them in a situation to buy more multi-family properties adding to their cashflow.
4. Testimonials
We had struggled for almost 2 years to find a lender that was able to help us refinance our portfolio of multi-family properties. We were always turned down because of the make-up of the properties, and because of the locations.
We were referred to Keith Thomas the CEO of Private Capital Investors from our current lender, and I must say, Keith was able to get the process moving within days, and an offer was made from a lender who wanted to finance our portfolio.
From start to finish, Keith Thomas and his team at Private Capital Investors was always very kind and courteous, and the customer service that we received was outstanding.
If you are looking for an honest lender, and a lender who will make you feel like your loan is their top priority, I would suggest calling them, it would be the best decision you have ever made. We will be doing our entire loan from now on with Private Capital Investors.
