Financing Amount:
Las Vegas, NV
Capital Source:
Fannie Mae
Transaction Details:

Tower Capital arranged a $2,500,000 refinance of a 44- unit multifamily property in Las Vegas, NV.  The borrower has owned this two story walk up since 2019 and improved the property’s exterior and interior over the past two years. The borrower wanted to take advantage of market conditions and take money out to start a new project.

The small balance Fannie Mae loan provided the borrower with a 7-year fixed term at 3.02%.  The borrower’s number one priority was locking in a long term, fixed rate, with interest only. At 55% LTV, we were able to secure a full term interest only loan.

The COVID-19 global pandemic has caused challenges that Tower and their partners have adapted too soundly. The combination of the borrower being a seasoned real estate professional, a repeat client, and utilizing our most reliable lending relationship, made the transaction very seamless.

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