Inner Circle Capital arranged a successful cash out refinance for a 32-unit multifamily property located in Thibodaux, LA. The borrower successfully secured a loan amount of $1,934,000. The loan term is set for 5 years with a fixed interest rate of 6.42% and an amortization schedule of 30 years. The cash out transaction was completed immediately after the first year of ownership, resulting in a 100%+ LTC. The loan also provides 2 years of interest-only payments to further boost the cashflow.

One notable challenge encountered during the closing process was the difficulty in obtaining property insurance due to the property being located in Louisiana. Given the state’s exposure to natural disasters, securing an appropriate policy was a critical step in finalizing the loan.

Capital Advisors: BJ Simpson and Jaideep Chadha