Metropolitan Capital Advisors, Ltd. has arranged a Fannie Mae Refinance Loan for La Hacienda Apartments in Dallas, TX.
The FNMA loan is fixed at an attractive interest rate with a 12-year term and a 30-year amortization schedule. The loans proceeds provided a large cash-out of the Sponsor’s equity in less than 2 years of ownership. The property’s location in South Dallas initially caused pushback on loan proceeds from prospective lenders. Furthermore, the Sponsor’s expenses on the property were well below the averages of many other operators. MCA was able to work through these issues to produce a highly attractive refinance loan for its client.
Justin Laub, Senior Director at MCA, was responsible for arranging the financing.
Since 1992, Metropolitan Capital Advisors has closed in excess of $13 billion of debt and equity transactions. National Real Estate Investor Magazine has consistently ranked MCA as one of the top CRE Financial Intermediaries in the US. MCA has already completed over $530,000,000 of commercial real estate financing during the first six months of 2017.