Daily Archives: July 23, 2018

CLOSED: The Market at Crenshaw

Q10 KDH Vice President Ryan Watson was able to secure a 75% leverage acquisition loan for a retail property in Pasadena, TX with multiple “Big Box” tenants. The transaction closed with a 10 year term and a 5.08% interest rate through a CMBS lender. Given the caution in the retail lending environment, especially for big box tenants, Ryan was able to identify a lender who could understand the strong momentum of the market coupled with strong tenant sales to obtain a 75% of purchase price non-recourse CMBS loan.

CLOSED: West Houston Apartments

Q10 KDH Vice President Ryan Watson provided financing with a small balance Freddie Mac loan for a multifamily property located in Houston, TX. The transaction closed with a 7 year term and a 4.68% interest rate. The Sponsor purchased a property less than two years ago and through a planned rehab projected and better property management was able to increase the value of the property. Ryan Watson was able to pull equity from the project and provide non-recourse financing with flexible pre-payment options.