I have a client who is purchasing two $5M complexes in Houston ($4M at 6.5% + $1M at an undetermined rate). Is this a good rate, and can anyone help me beat it?

xptruth:

I can do up to 90%LTC on this property (single lein) for 150-165 over 10yr treasury....

Call me asap...

I understand he is putting 50% down??? (2 5mil properties, and 5 mil loan?) If that's right, there are non-recourse loans available even at 6% based on a proforma. The 1 mil may be a mezzanine.

What is the DSCR? (actual & proforma)
What's the borrower experience and net worth? (you won't do a non-recourse if it's not strong)
What LTC and/or what LTV are we looking at?
Has there been an appraisal done?

Unfortunately, you don't provide enough info about the property and the borrower, and therefore there can't be an answer.