Refinancing and Securitization.

[Account Closed]

Hi All,

I am in the middle of a situation involving a refinanced asset and securitization and apparently a 6 month locked in period after securitization for seller/refinancee.  My question is, is the asset currently saleable?  A buyer is online and extremely interested, seller wants it gone with a profit.

Initially, I thought the securitization was akin to a freeze on selling the asset for a set period of time without pre payment penalty. LOL! That's when google showed up!

Seller doesn't know when the securitization finanlized, but the refi is place. No, I do not know the terms but realize that this scenario may arise again when I know the terms or as a party to the terms.

Can assets in this situation be sold as is? My contacts suggest selling the LLC and all its liabilities to prospective buyer. Or selling the shares of the asset to prospective buyer and making them a minor member of the llc with agreement they will purchase the asset after the securitization process.

The asking price for the asset is $5M-$10M and currently performing at 86% of 10 month old pro forma. The NOI after expenses is appx 9.4% with ongoing capital improvements.

Is it possible to sell this with the re-fi and securitization process attached? Any suggestions are welcomed.

Thanks!

Marvin