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Deal Spotlight - 11 Feb, 2021

Today’s spotlight centers on the successful acquisition financing of a multi-family property in Las Vegas that is 100% leased to military veterans. The master-leased multi-family asset required special attention throughout the process, and Terrydale Capital was up for the challenge.

What We Were Up Against

Due to its master lease status, the Lenders were heavily focused on the rent roll and future management. The Appraiser also determined the property had a 25-year economic life instead of 30 and the Borrower’s level of activity in the market required the deal to be closed as soon as possible despite the extra diligence required in the scenario.

What Our Team Helped Turn Around

Using our all-hands-on-deck approach to negotiation, the TDC team structured six months of interest-only to offset the revised 25-year amortization period. Our Team's detailed rent roll analysis brought to light the length of tenancy per unit to boost the Lender’s confidence with new management, and by close we had:

  • 3.95% Fixed Interest Rate on a 5-Year Term
  • 6-Months Only Interest
  • 65% LTV
  • 25-Year Amortization

The team at Terrydale Capital consistently goes above and beyond to secure the best possible refinancing terms for our clients. Are you dealing with issues related to market volatility during COVID-19? Worried about high fees and missing out on better options? We have ways to help. Give us a call and see what we can do for you.

Your Success is our Priority!

Want first access to active opportunities and a preferred investor status? Check out www.terrydalelive.com.

By Bella Capri, 22 Mar, 2021

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Deal Spotlight - 18 Feb, 2021

Today’s spotlight centers on the successful acquisition financing of a multi-family property in Las Vegas that is 100% leased to military veterans. The master-leased multi-family asset required special attention throughout the process, and Terrydale Capital was up for the challenge.

What We Were Up Against

Due to its master lease status, the Lenders were heavily focused on the rent roll and future management. The Appraiser also determined the property had a 25-year economic life instead of 30 and the Borrower’s level of activity in the market required the deal to be closed as soon as possible despite the extra diligence required in the scenario.

What Our Team Helped Turn Around

Using our all-hands-on-deck approach to negotiation, the TDC team structured six months of interest-only to offset the revised 25-year amortization period. Our Team's detailed rent roll analysis brought to light the length of tenancy per unit to boost the Lender’s confidence with new management, and by close we had:

  • 3.95% Fixed Interest Rate on a 5-Year Term
  • 6-Months Only Interest
  • 65% LTV
  • 25-Year Amortization

The team at Terrydale Capital consistently goes above and beyond to secure the best possible refinancing terms for our clients. Are you dealing with issues related to market volatility during COVID-19? Worried about high fees and missing out on better options? We have ways to help. Give us a call and see what we can do for you.

Your Success is our Priority!

Want first access to active opportunities and a preferred investor status? Check out www.terrydalelive.com.

By Bella Capri, 22 Mar, 2021

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Deal Spotlight - 18 Jan, 2021

Today we’re turning the spotlight on an apartment building in Arlington, Texas. The 44-unit multi-family property proved to be one of our most challenging assignments yet, owing to a combination of the asset’s attributes and uncertain market conditions. The Terrydale Capital Team is proud to have risen to the challenge and delivered for our clients.

What We Were Up Against

Despite their experience as a multi-family investor group, this was our Client’s first purchase in the Texas market. As a result, several Lenders expressed uncertainties due to the lack of in-state presence. The Seller’s poor management and absentee ownership position had also left the property un-stabilized at the time of contract and in need of repairs, with a 55% occupancy rate.
? The closing timeline given per the Sales Contract was short, and with less than a week to close, we found out that a section of the property sat in a Flood Zone. Additional flood insurance would be required.

What Our Team Helped Turn Around

By successfully negotiating an extension with the Sales Broker for formal loan approval and deal close by the contract deadline, we facilitated more thorough negotiations. Consequently, there was better communication of the Borrower’s vision and plans for a Texas portfolio expansion to the Lender. Picking up a flood insurance policy on the way, the Terrydale Capital team gave the Borrower the foundation needed to take over leasing and achieve an 80% occupancy before close.

Right on schedule, we secured an advancing term bridge loan for acquisition and renovation on the following terms:

  • $2,842,500 Loan Amount
  • 79% LTC
  • 4.25% Fixed Rate for 5 Years
  • 2-Year IO followed by 3 Years of Amortized Loan
  • Limited PP for only 2 Years of 5-Year Term

The team at Terrydale Capital consistently goes above and beyond to secure the best possible refinancing terms for our clients. Are you dealing with issues related to market volatility during COVID-19? Worried about high fees and missing out on better options? We have ways to help. Give us a call and see what we can do for you.

Your Success is our Priority!

Want first access to active opportunities and a preferred investor status? Check out www.terrydalelive.com.

By Bella Capri, 22 Mar, 2021

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Deal Spotlight - 03 Feb, 2021

Today's spotlight centers on the successful cash-out refinance of a multi-family property in Garland, Texas. Terrydale Capital originally arranged the acquisition financing back in Spring 2020 and was able to refinance this property for the Client a year and a half later. TDC was able to get the Borrower cash out proceeds to be used towards future real estate investment properties.

What We Were Up Against

The property experienced slight occupancy fluctuations due to COVID. In addition, the Client had a tax lien issue that had to be resolved prior to closing.

What Our Team Helped Turn Around

The property, the Client's first multi-family investment, has been self-managed since it was purchased. TDC successfully pushed for the appropriate waivers necessary for the Client to continue to self-manage the property despite having less than two-years of multi-family property management experience and obtain a Non-Recourse loan. TDC overcame the tax lien issue and was able to get the client cash back at closing with the following terms:

  • Non-Recourse
  • $1,267,000 Loan Amount
  • 3.81% Fixed Rate for 5-Years
  • 20-Year Term
  • 30-Year Amortization Following 1-Year IO

The team at Terrydale Capital consistently goes above and beyond to secure the best possible refinancing terms for our clients. Are you dealing with issues related to market volatility during COVID-19? Worried about high fees and missing out on better options? We have ways to help. Give us a call and see what we can do for you.

Your Success is our Priority!

Want first access to active opportunities and a preferred investor status? Check out www.terrydalelive.com.

By Bella Capri, 22 Mar, 2021