Mortgage Brokerage – Tallahassee, FL

CASE STUDY

Challenges

Key principal/managing member had a historical bankruptcy.

Some crime onsite under the previous ownership - including arson/willful property damage and violent crime.

Incomplete historical financials due to previous ownership negligence.

City subsidized tenants with non-disclosed historical payments due to imcomplete records from the housing authority.

Surveyed subject parking lot encroachment onto a neighboring parcel not owned by the borrower.

Loan Overview

Loan Type Refinance – Cash Out
Loan to Value 75%
Property Type Multifamily
Property Size (Units) 59
Year Built 1973
Loan Term 10 years
Loan Amortization 30 years
Interest Type Fixed Rate
Recourse Type Non-Recourse
Loan Status CLOSED

Institutional Execution Middle Market Focus