Barry Slatt Mortgage Closes $60,300,000 Northern California Multi-Family Deal

Share Article

Barry Slatt Mortgage Executive Director Ryan M. Gray closes a $60,300,000 permanent loan on a nine building apartment portfolio totaling 518 units located throughout Northern California.

From the start this deal faced many hurdles—high leverage, tight coverage, prior financial hardship, and titles issues. We were able to overcome those obstacles and reach amenable terms for both borrower and lender in what was a very complex process.

Barry Slatt Mortgage Executive Director Ryan M. Gray recently closed a $60,300,000 permanent loan on a nine building apartment portfolio totaling 518 units located throughout Northern California. This highly structured and highly leveraged loan included both senior and mezzanine debt. 

The CMBS execution was completed on a 30-year amortization and 10-year fixed term with one year of interest only. The proceeds were used to retire existing loans. Said Gray about the complicated transaction, "From the start this deal faced many hurdles—high leverage, tight coverage, prior financial hardship, and titles issues. We were able to overcome those obstacles and reach terms that were amenable for both borrower and lender in what was a very complex process."

About Barry Slatt Mortgage: Barry Slatt Mortgage is a long-standing and respected institution with more than four decades of experience in commercial mortgage banking. Today the company tempers the same expertise, trust, and straightforward communication it was founded upon with modern analysis and market tools. Slatt has correspondent relationships with several of the most prestigious lenders in the country, providing custom-tailored solutions for borrowers' needs.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Christopher Bright
Follow us on
Visit website