2nd Position Commercial Loan

[Fan Bi]

I have four six-families, i.e. 24 units in total, that are each held under a separate commercial note, all approximately 18 months old. The notes have a pre-payment penalty within the first five years. All properties have been rehabbed and are worth considerably more, and at a 75% LTV, should be able to access $250,000 in a cash-out refinance. But the bank said it's not comfortable lending more at this point and would need to wait at least another year to season.

Does anyone know of a lender that will lend in the second position, even at a slightly lower LTV, e.g. 65%, and even at a higher rate, so I can access some of this equity?