$750,000 Independence Commerce Center- Commercial Condo Inventory Loan- Fort Lauderdale, FL
$750,000
4 commercial condo units
5 Year Permanent Loan / 25 Year Amortization
3.50% – Locked at application
No prepayment penalty
Closed by Dan Bockstoce
$3,750,000 Cypress Creek Business Center- Fort Lauderdale, FL
$3,750,000
Office Building – 41,362 SF
5 Year Permanent Loan / 25 Year Amortization
3.54% – Locked at application
No prepayment penalty
NON-RECOURSE
Closed by Dan Bockstoce
$4,897,000 Viewmax Apartments – Fort Lauderdale, FL
$4,897,000
5 year fixed rate loan with 15 year floating rate extension option
4.00% fixed, 5 Years Interest Only
Rate locked at application
3,2,1,1,1 prepayment penalty
Non-Recourse
First time multifamily buyer, 88 units, 2 four story buildings located in Lauderhill
Closed by: Michael Brown
$5,080,000 Single Tenant Office Building, Royal Palm Beach, FL
$5,080,000
3 year term
4.125% fixed, locked at application
No prepayment penalty
Non-Recourse to Sponsors
RATE LOCKED AT APPLICATION
A 30,000 SF Office building is fully occupied by a for-profit university, with 6 years remaining on the lease.
This new loan was the take-out of a construction loan with mini-perm.
Closed by Zach Nimhauser & Michael Brown
$1,950,000 Two multi-tenant office buildings, Fort Lauderdale, Florida
10 year term
4.00% fixed, locked at application
no prepayment penalty
Recourse at 25%
RATE LOCKED AT APPLICATION
Closed by Michael Brown
$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
$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
$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
$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