“My relationship with the lender, my preparation and the cooperation of the borrower made this happen so quickly,” said Novo.
New York, NY (PRWEB) September 30, 2012
The Real Estate Finance Group, Inc. announced today the continuation of its success in the Los Angeles multi-family financing market.
CLOSED 9 Units on Rio Hondo Parkway, El Monte, CA $1,180,000 Refinance 5-year fixed 3.625% at 75% LTV with cash out.
Gianni Novo, Partner at TREFG performed a rental and comps sale survey to assist bank with their current market knowledge in a dynamic and improving neighborhood to ensure subject property appraised for highest value. “I achieved borrower’s goal of maximum LTV with cash-out in a secondary market,” said Novo.
CLOSED 12 Units on West 18th Street, Costa Mesa, CA 92627 $1,762,500 Refinance 5-year fixed 3.625% Novo says the number of legal, conforming units came under scrutiny and title information was in conflict, affecting lender underwriting . Novo personally visited the City of Costa Mesa’s planning department to pull historical building permits and provide bank and Title Company with data to keep the deal on track.
CLOSED 7 Units on West 182nd Street, Torrance, and CA 90504 $850,000 Purchase 5-year fixed 3.775%
Novo was able to get this loan funded in 35 days regardless of the lender backlog. “My relationship with the lender, my preparation and the cooperation of the borrower made this happen so quickly,” said Novo.
CLOSED 11 Units Pine Street, South Pasadena, CA 91030 $1,300,000 Refinance 5-year fixed 3.95%
Novo mitigated borrower credit issue with an extremely conservative lender. Novo was able to get the loan funded while keeping his client’s needs met and satisfying all lenders requirements.
About The Real Estate Finance Group, Inc. (TREFG)
Through its network of national and regional lenders, TREFG provides financing for multi-family, retail, office, industrial, single-tenant net-lease properties.
The Real Estate Finance Group is based in West Los Angeles and New York City.
For information, go to http://www.TheRealEstateFinanceGroup.com
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Adam J. Petriella
Source: The Real Estate Finance Group