$17,000,000 – 12-Year Fixed Rate – Construct to Perm, Multifamily Construction, Miami, FL

$17,000,000

Construction Loan with Full Term Perm

18 months of construction, 30 months interest only, then 30-year amortization for remainder of 12 year total term

Non-Recourse at Stabilization

Rate Locked at closing

4.74% fixed rate

No bonding of GC or subs

DETAILS:

Sponsor is a well known Miami GC who is also a developer. HIs goal was to eliminate interest rate risk over a long hold. Banyan was tasked with finding a loan of at-least 10 years in term which can be fixed upfront. Loan has 30 months of interest only, which is enough time to get the property built and leased at or near stabilized occupancy. 

Property will include 103 apartment units and 24 storage units, 50 garage parking spaces, surface parking and 3,500 SF of retail/office.

Michael Brown – mb@banyancc.com

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

$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

$3,350,000 – Portfolio of Single Family & Small Multifamily Rental Properties, 69 Units, Dickinson, North Dakota

$3,350,000

Permanent Loan

Limited-Recourse

Rate Locked at Application

6.0% fixed

5-Year Term with 5 year extension option

20-year amortization

 

DETAILS:

Sponsor is out of state and sought to purchase this portfolio of 69 rental units, mostly single family homes. All properties are within the Dickinson, ND energy area, which has a strong economy due to oil prices. Banyan Commercial Capital was able to procure a lender that understood the area, and had local experience.   

Nico Pepia – np@banyancc.com

Michael Brown – mb@banyancc.com

$1,500,000 – 10-Year Fixed Rate of 3.74%, Non-Recourse, Multifamily Refi, Atlanta, GA

$1,500,000

Permanent Loan

Non-Recourse

Rate Locked at Application

3.74% fixed rate

10-Year Term with 10 year extension option

30-year amortization

 

DETAILS:

This loan will enable the client to perform upgrades that will enhance the tenant experience as well as the marketability of the units to future tenants. Rates at the time of closing were 100 bps+ higher from same lender. 

Dan Bockstoce – db@banyancc.com

Michael Brown – mb@banyancc.com

$4,129,000 – 20-Year Fixed Rate, Non-Recourse, Multifamily Acquisition Perm, Miramar, FL

$4,129,000

Acquisition Permanent Loan

Non-Recourse

Rate Locked at Application

3.53% fixed rate

20-Year Term

30-year amortization

 

DETAILS:

This loan enabled the client to purchase this 40-unit property which has plenty of rent upside, and has been well maintained by the seller. The early rate locked allowed the client to proceed without fear of rate increase for very inexpensive debt. Rates at the time fo closing were 100 bps+ higher from same lender. 

Dan Bockstoce – db@banyancc.com

Michael Brown – mb@banyancc.com

$6,250,000 – 10-Year Fixed Rate, Non-Recourse, Cash-Out Office Building Refi, Jupiter, FL

$6,250,000

Cash-Out Permanent Loan

Non-Recourse

3.75% fixed rate

10-Year Term

25-year amortization

No Prepayment Penalty

Rate Locked at Application

Regional Bank Execution

DETAILS:

This loan was for a repeat client. This is a 3 tenant property in a prestigious area in Jupiter. Client required non-recourse and no-prepayment penalty which we were able to negotiate favorably at a very good rate of 3.75%. 

Zach Nimhauser – zn@banyancc.com

Michael Brown – mb@banyancc.com

$11,000,000 – 15-Year Fixed Rate, Non-Recourse, Cash-Out Multifamily Refinance, Fort Lauderdale, FL

$11,000,000

Cash-Out Permanent Loan

Non-Recourse

4.17% fixed rate

15-Year Term

30-year amortization

Early Rate Locked as Rates starting Increasing

FNMA Execution

DETAILS:

This loan was for a repeat client, and in fact, the principals of Banyan Commercial Capital had financed this property for this sponsor nearly 10-years prior. The objective was to lock in a maximum term fixed rate (longer than the normal 10-year term) with the ability to early rate lock if rates began to move. This is a well maintained 124 unit multifamily property that has experienced tremendous rent and collection growth during the covid pandemic. Very clean and well maintained property now set with a long term fixed rate loan and cash out for other investments. 

Dan Bockstoce – db@banyancc.com

Michael Brown – mb@banyancc.com

$10,000,000 – Non-Recourse, Fixed Rate, 10-Year term, Cash-Out Refi, Retail Center on Dale Mabry, Tampa, FL

$10,000,000

Cash-Out Permanent Loan

Non-Recourse

3.75% fixed rate

10-Year Term

25-year amortization

Rate Locked at Application

NO PREPAYMENT PENALTY!!

DETAILS:

Sponsor required non-recourse terms and a bank execution. Property included a Dispensary, as well as CVS, several restaurants, and local tenants. This is the second time that Banyan Commercial Capital has financed this property. 

Dan Bockstoce – db@banyancc.com

Michael Brown – mb@banyancc.com

$1,995,000 – Cash-Out Refi, Medical Office within Residential Condo, Miami, FL

$1,995,000, cash out refi

7.5 year fixed rate loan + 5 year extension option

25 year amortization

3.75% fixed and locked at application

3,2,1,0,0,0,0

Property consists of entire grade level commercial condominium, and adjacent 7,425 square foot surface parking lot, a well as 31 garage spaces. We had financed this property a few years ago, and were able to provide cash out and a lower rate and payment to sponsor.

Closed by Michael Brown

mb@banyancc.com

 

$2,162,000 – Non-Recourse, Fixed Rate, 10-Year Perm, Cash-out, Multifamily, Miami, FL

$2,162,000

Cash-Out Permanent Loan

Non-Recourse

3.62% fixed rate

30-year amortization

Rate Locked at Application

DETAILS:

Property was recently improved and sponsor desired to recap some of the capex. Property is well occupied, stabilized, well managed, and performed very well during covid.

Dan Bockstoce – db@banyancc.com

Michael Brown – mb@banyancc.com