Closed: Cash-out Refinance of a Multifamily Property

Q10 KDH Vice President Larry Peters and Senior Associate Adam Unger arranged permanent debt for the refinance of a 102-unit apartment complex in Brazoria County, TX. Larry and Adam worked on behalf of the borrower to secure a 20-year, fixed-rate loan with 5-year rate adjustments through a correspondent life insurance company.

“The borrower plans a major addition to the asset and the beauty of this loan is that the lender required no escrow, no future approval, and funded the entire loan without a holdback,” Larry Peters said.