Multifamily in East Houston

Property Name: Multifamily in East Houston
Location: Houston, TX
Property Type: Apartment/Multi-Family
Transaction Type: Acquisition Financing
Loan Amount: $3,100,000
Details: "Ryan Watson of Q10 KDH closed a $3,100,000 multifamily loan in East Houston with our correspondent lender, Pinnacle Financial Partners, through their Small Balance Freddie Mac program. The property is a 123 unit multifamily complex. Ryan was able to secure a 10-year fixed rate note with 3 years of interest only followed by a 30-year amortization on a non-recourse basis. The borrower had owned the property for over 15 years and wanted to cash out equity and lock their rate for the next 10 years. We were able to facilitate this along with over a $1,000,000 cash out and less than $11,000 in lender closing fees."
More Info: Ryan Watson at 713-871-5858 or contact me