Location: Peoria, AZ
Loan Amount: $5.270,000
Interest Rate: 10yr Tbill + 220
Term/Amortization: 10 (5 I/O)/30
Loan to Value: 70%
Loan Type: AcquisitionNon-Recourse
We are pleased to announce the successful closing of an Office financing loan for commercial real estate. The borrower, an out-of-state real estate investor, sought a rate and term refinance of their existing loan. The loan size was $5.2 million and was sized to 70% LTV. The 10-year term had a 30-year amortization, and the borrower requested interest-only payments for the first 5 years.
Our team worked closely with the borrower to structure the loan according to their needs. The non-recourse loan rate was set at 10-year T-bill + 220, which provided a competitive rate for the borrower. The loan was underwritten with a focus on the property's cash flow and the borrower's ability to service the debt.
The loan closing process was smooth, and the loan was funded within the desired timeframe. Our team provided guidance and support throughout the process, ensuring that all necessary documentation was completed and submitted on time.
We are proud to have facilitated this loan and helped our borrower achieve their financing goals. We strive to provide exceptional service and customized solutions to meet our clients' needs.