NJ, Commercial, Purchase, $9M, 700 FICO, 75% LTV
Posted on 12/16/2015 10:56:00 AM
My borrower/buyer client is purchasing a retail shopping center with good to excellent NOI. Seller has a $14MM note with excellent terms BUT a high pre-payment penalty. Seller and Buyer would like to assign the note to the buyer and the buyer would like to borrow the remaining $9MM at best terms possible up to 75% ltv if possible or best ltv in a second lien position.
Is this some thing in your wheel house?