(PRWEB) February 24, 2014
Barry Slatt Mortgage Managing Director Jeff Glenn recently closed a six property portfolio deal totaling $42 million. The borrowers were in a 1031 exchange and faced several significant challenges. The properties were located in different states, which made identifying a single lender willing to finance all six properties more difficult.
After contacting more than 37 different lenders, Jeff was able to allow the borrowers the flexibility to rate-lock at application, meet the closing timelines in accordance with the terms of each purchase and sales agreement, and offer the flexibility of paying down each loan prior to the expiration of the loan term; all of which requirements were coordinated and performed at the same time. The loan was ultimately placed with one of Barry Slatt Mortgage's correspondent lenders.
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. Slatt has correspondent relationships with several of the most prestigious lenders in the country, providing custom-tailored solutions for borrowers' needs.