$2,250,000 Felicity & Hamony Apartments, New Orleans, LA

Cash out refi on 59 units built in 1880!

Two non-adjacent properties in downtown New Orleans.

$2,250,000, refi

4.26% fixed

5 year fixed rate loan, 20 year total term

30 year amortization

3,2,1,1,1 prepayment penalty, followed by 15 years open

Non-Recourse

RATE LOCKED AT APPLICATION

 

Rate resets after 5 years based on a spread over the 6 month LIBOR, and adjusts every 6 months, with no prepayment penalty

This was the refi an FHA bond financed loan. It required the defeasance of the bonds, and working through the FHA/HUD payoff procedure. Bonds have a 10 day window two times per year in which they can be paid off. If this window were to have been missed, the refi would have been delayed 6 months.

 

Closed by Michael Brown

mb@banyancc.com

$3,640,000 Gulfstream Apartments, Lake Worth, Florida

Multifamily rehab and re-stabilization loan with cash out at closing!!

$3,640,000, refi

3.40% fixed

5 year fixed rate loan

25 year amortization

No prepayment penalty

Foreign sponsors

RATE LOCKED AT APPLICATION

 

 

Closed by Nico Pepia, Zach Nimhauser & Michael Brown

np@banyancc.com

zn@banyancc.com

mb@banyancc.com

$525,000 Single Tenant – Non-Credit Advance Auto, South Carolina

$525,000, Acquisition

5 year fixed rate loan + 5 year extension option

4.65% fixed

RATE LOCKED AT APPLICATION

30 year amortization

No Prepayment Penalty

 

Closed by Jeff Baum & Michael Brown

 

jb@banyancc.com

mb@banyancc.com

$3,250,000 90 unit apartment property – Jacksonville, FL

$3,250,000, 80% LTV

7 year fixed rate loan

4.51% fixed

30 year amortization

5,5,4,4,3,2,1

Non-Recourse

Cash Out Refi

 

Closed by Dan Bockstoce & Michael Brown

db@banyancc.com

mb@banyancc.com

$1,750,000 Lockwood Village Shopping Center, Oviedo, Florida

$1,750,000, refiScreen Shot 2016-03-08 at 10.12.42 AM (2)

10 year fixed rate loan

3.99% fixed

RATE LOCKED AT APPLICATION

Recourse limited to 25% of loan amount

Property includes a Winn-Dixie Grocery Store

Closed by Zach Nimhauser & Michael Brown

 

zn@banyancc.com

mb@banyancc.com

$1,400,000 Debary Commons Shopping Center, Debary, Florida

$1,400,000, refi

10 year fixed rate loan

3.99% fixed

RATE LOCKED AT APPLICATION

Recourse limited to 25% of loan amount

Property includes a Winn-Dixie Grocery Store

Closed by Zach Nimhauser & Michael Brown

 

zn@banyancc.com

mb@banyancc.com

$4,480,000 Multi-Tenant Retail Strip, Tamarac, Florida

$4,480,000, acquisition loan

75% LTV

5 year fixed rate loan

3.50% fixed, locked at application

2,1,0,0,0 prepayment penalty

RATE LOCKED AT APPLICATION

Property includes a Walgreens store which is on extension option

 

Closed by Dan Bockstoce & Michael Brown

 

db@banyancc.com

mb@banyancc.com

$1,650,000 Eureka Apartments – Little Havana, Miami, FL

$1,650,000

5 year fixed rate loan with 15 year floating rate extension option

3.67% fixed, locked at application

30 year amortization

5,4,3,2,1

Non-Recourse

Foreign national borrower

Closed by: Michael Brown

mb@banyancc.com

$1,750,000 Executive Suites – Greenville, South Carolina

$1,750,000 (75% LTV)

Office Building – 36,500 SF

5 Year Permanent Loan / 30 Year Amortization

4.55%

No prepayment penalty

Closed by Dan Bockstoce

db@banyancc.com

$14,973,713 Construction Loan – Ascend Hotel – Dania Beach / Fort Lauderdale, FL

GROUND UP CONSTRUCTION – HOTEL

$14,973,713.00

75% LTC

Libor Floater

2 year construction loan with 5 year mini-perm

Foreign National Sponsorship

Closed by Michael Brown

mb@banyancc.com