$2,000,000 – Cash Out Fixed Rate Perm Multi-tenant suburban office building, Miami, FL

/in

$2,000,000

Cash-Out Permanent Loan

3.55% fixed rate

Locked at Application

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

DETAILS:

Client sought to cash out during covid, while many tenants still have remote employees. This property consists of primarily short term leases, which many lenders have avoided. Banyan was able to procure a loan which provided a very low fixed rate (locked at application) with a very flexible prepayment structure. In fact, after year 2 of this 7 year loan, there is no prepayment penalty.

Zach Nimhauser – zn@banyancc.com

Michael Brown – mb@banyancc.com