9805 East Bell Road, Suite 110, Scottsdale, Arizona 85260-2334 Web: www.integrity-capital.com Email: [email protected] Reception: 480-219-1640
We proudly present the following exclusively financed transaction!
SOUTH PARK REFINANCE 3920 S. PADRE ISLAND DRIVE
CORPUS CHRISTI, TX 78411
PROPERTY HIGHLIGHTS
Ø Property was at a low leverage Ø Building was located in a prime location in
the heart of Texas
DEAL CHALLENGES FINANCING STRATEGY
Ø Significant Roll Over Risk Ø Teritiary Market Ø Borrower was not up to speed on the CAM Expenses
Ø We were able to get the lender comfortable with the basis and DSCR
Ø Were able to show that Corpus Christi was an up and coming city with great traffic
Ø We were able to assist in getting his CAM books up to speed
FINANCING SUMMARY ADDED VALUE TO THE CLIENT
Appraised Value 6,075,000 Ø Client was able to waive impounds by signing recourse Ø Took away the burden of loan preparation Ø Negotiated valuable terms that fit their immediate and
future needs Loan Amount 3,900,000
Loan to Value 64%
Amortization 300 mos.
Term 120 mos.- Fixed for 10
Prepayment Penalty Yield Maintenance
Interest Rate 6.75%
Indices 10 yr Treasury