Commercial Lender needed - 23 unit apartment Cash out Refi

[Ilya Moundous]

My partner and I are finishing rehab on a 23 unit apartment in SC this month. We bought the property in April. We have an agreement with the city to rent out the units to section 8 housing tenants. Are there any lenders that can do this refi while the properties are vacant? (The units should be fully occupied by November, but our HML expires Oct 20)

ARV: $1.6m

Rent per unit: $1280/mo ($29,440/mo at 100% occupancy)

DSCR at 100% vacancy: 1.73

Seeking 65-70% LTV cashout