Global Solutions Closes a Commercial Loan in Texas

$8,500,000 Refinance on a 416-unit multifamily in Houston, TX

We are pleased to announce a recent closing for a repeat client. This property is owned by a foreign investment group who were looking for a cash-out refinance to redistribute some of the equity in the property back to the ownership.

Despite a lack of strong historical financials we secured a loan using one of our CMBS lenders who looks more at the current cash-flow. This lender also allows for unrestricted cash-out requests and is willing to lend to foreigners. The terms of the loan are:

·         Rate in the low 5s

·         10 year note with 30 year amortization

·         4 year I/O introductory period

·         $4,000,00 in cash out proceeds

·         Non-recourse loan

·         Funds for minor repairs

·         Not one of the 102 owners signed for the loan. We used their asset manager as the sole guarantor.

This is a perfect example of how matching a loan with the right lender really matters and how we can assist our clients’ secure fantastic terms that no brick and mortar bank could ever offer.

For any questions please contact Marie Fleming / marie@glblsolutions.com