Need lender for 29 condos

[Rodolphe Brun]

Good morning everyone,

I am looking for a lender that would do a blanket loan on a 29 efficiency units package in Daytona Florida. The complex has 105 units. All the units are rented. We already managed 52 units that are all rented. The purchase price is $2,175,000. Let me know if you have someone that could do this type of loan. Thank you.

[Ray Hill]

Hi,

Please tell me more about this deal.  I may have someone that can help.

Thank you,

Ray

[Rusty Gruber]

Quote from @Rodolphe Brun:

Good morning everyone,

I am looking for a lender that would do a blanket loan on a 29 efficiency units package in Daytona Florida. The complex has 105 units. All the units are rented. We already managed 52 units that are all rented. The purchase price is $2,175,000. Let me know if you have someone that could do this type of loan. Thank you.

What is your exit strategy.......I can do bridge loans for short terms......if interested send me details [email protected]  I am a Principal and not a Broker.

[Dallas Sauer]

Are they Warrantable? 

[David Chung]

Quote from @Rodolphe Brun:

Good morning everyone,

I am looking for a lender that would do a blanket loan on a 29 efficiency units package in Daytona Florida. The complex has 105 units. All the units are rented. We already managed 52 units that are all rented. The purchase price is $2,175,000. Let me know if you have someone that could do this type of loan. Thank you.

 You mention that you manage 52 units already - does your group own those 52 units or just manage?  What are the ownership concentration percentages?  It sounds like there would probably be a problem when you get to underwriting with the ownership concentration limits for most lenders.

[John Karg]

Hi Rodolphe,

I definitely have lenders that would do this as a portfolio loan. Feel free to call or email to collect more details and then I'll get you some quotes.

John

[Greg Downey]

@Rodolphe Brun, happy to take a look at this whether these are warrantable or not. Feel free to reach out!