Client has 130 2-4 units - wants to refinance 2
Posted 01 December 2004 - 11:54 PM
Posted 02 December 2004 - 12:01 AM
I am unfamiliar with this limitation. A friend of mine just underwrote a couple of refinancing deals for someone that is called “the apartment king”, and has more than 1,000 units dispersed over 20 to 30 properties.
Is this some kind of residential lending limitation? If so, my guess is that this customer of yours hit that limit a long time ago.
If you are talking exposure to a single borrower that is handled with a monetary cap.
Posted 02 December 2004 - 12:09 AM
Posted 03 December 2004 - 03:39 PM
Posted 12 December 2004 - 10:01 AM
identity of ownership (i.e. same individual or group of individuals owning
the real estate personally or as members of separate SPEs), experience of
the management group and total loan factors (e.g. leverage, term,
amortization, recourse, etc.) this is conceivably financable with
instituational (life company, conduit or agency) lenders.
Our firm finances $400m annually, 30% or so of which is multi-family perm
loans. We service a large portfolio for our correspondent life insurance
company lenders and have the ability to finance nationally.
Posted 20 December 2004 - 05:51 PM
Does this borrower get tradional residential mortgages? I guess I don't see how Fannie/Freddie play into this.
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