Inner Circle Capital Advisors arranged the financing for a 30-unit multifamily property located in Amarillo, TX. This was the borrowers largest deal till date and their first foray into multifamily investments. The property was built in 1985 and boasted a 93.3% occupancy.
The borrower successfully secured a loan amount of $1,196,000. The loan term is set for 5 years with a fixed interest rate of 6.53% and an amortization schedule of 30 years. The lender was able to float down the rate when the market rates came down during the loan application process. Furthermore, the final loan proceeds were $15,000 higher than the executed term sheet. This deal highlights Inner Circle Capital Advisors commitment to their clients to keep pushing for the best financing outcome even after a term sheet is executed and the deal is secured.
Capital Advisors: BJ Simpson and Jaideep Chadha
