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Updated over 5 years ago on .
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Multi-Family (10+ units) w/ Agency Financing
I'm wondering if anyone has successfully closed on a MF property using Agency Financing and would be willing to share their experience? I'm hoping to learn if this would be a viable option for an investor group looking to purchase a B- to C+ class property w/ possibly some value add but already at high occupancy 90%+. Would also be looking to exit the investment anywhere in the 5-10 year window.
A few questions I am really interested in below;
1. How many units & approximate purchase price?
2. Property class?
3. Agency program used?
4. What were the loans terms/amortization period.
4. Occupancy at closing?
5. Restrictions on early payoff, transfer of ownership between LLC members, etc?
6. Any other out of the ordinary underwriting issues that came up?
Any input on any of the above items is greatly appreciated.
Thanks everyone!