JMack
1 Posts |
 Posted - 06/19/2008 : 9:28:06 PM
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Greetings,
I'm looking for lender who has specific programs for student housing in a secondary market in Texas (a small town outside Houston). The property is fully stabilized. The apartments are rented by bedroom rather than by apartment. The borrower has substantial net worth and liquidity. Here are some of the specs I'm looking for:
Fixed Rate
5 or 10 year term, amortized over 30
Loan amount: approx $3.1MM (75% LTV)
Non-recourse option
Origination fees to lender: 0%
Current rate near 6.75%
Streamlined process for the borrower--quick closing
Shoot me an e-mail at my address below or give me a call if you are a lender and have a program that might work. It's very important that the lender have familiarity with student housing in small markets, preferably located near Houston in Texas. Shoot me an e-mail at jmack@envisionlending.com |
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