$1,462,500 – 5 Year Fixed Rate Cash Out Refi, 47-Unit Multifamily, Dickinson, ND

/in /by

$1,462,500

Permanent Loan

Limited-Recourse

Rate Locked at Application

6.00% fixed rate

5-Year Term with 5 year extension option

20-year amortization

 

DETAILS:

Client had purchased this property from a lender. It was in rough shape at purchase. Client has completed many upgrades since purchase and is still doing more. Banyan Commercial Capital was able to secure a lender that could work with the sponsor though additional improvements and provide a fixed rate in an area where fixed rate financing is difficult to find, as well as provide cash-out. 

Nico Pepia – np@banyancc.com

Michael Brown – mb@banyancc.com