Ideas to refinance apartment complex - we owe approx 93% LTV

[Eric Claxton]

Hey guys, I have just found out that we have much less equity in one of our assets than we originally thought - only about 7-8%. The development cash flows well but we owe / have too too much in it . I am looking at doing a D4 on the project to raise the value of the project. Or, we were considering selling the asset to our 501 (3) c , take back a note for the sales price. I know that under some programs nonprofit buyers can get higher LTV than we can . Does anyone have any other suggestions?