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Colorado Springs Closings!
22 unit purchase $823,000 75% LTV. Poor historicals, flood plain, complex borrowing entity. YOC 1954.
62 unit refinance. Property had significant deferered maintenance, out of country owner, poor operating history. YOC 1972. $1,100,000 cash out.
30 unit apartment complex on Bijou St in Colorado City. 1031 exchange. Borrower purchased with cash and we financed 75% cash out. 1960's vintage. Out of state buyers.
The Gallery Apartments - 58 units, 75% LTV, YOC 1970.
72 unit townhome apartment complex. Partnership consisted of 5 first time borrowers with no MF experience. 1960's vintage, 75% LTV. $1,900,000.