McKinney, Texas, United States - August 11, 2022 —
A pioneer in the real estate financing sector, Terrydale Capital offers a variety of services including retail loans, hard money loans, advising, bridge financing, and more. The type of properties that the firm can help to secure are apartments, office buildings, medical office buildings, retail, warehouse and self-storage, RV and mobile home parks, and senior housing & assisted living.
In recent times, Quinn Conway with Terrydale Capital has arranged for a $2,927,000 loan for a buyer who asked to be not disclosed for the purchase of a multi-tenant retail property located in McKinney, TX.
The loan featured a 25-year amortization, with a 75% LTV, and a 4.9% interest rate (WSJP + 0.90%) fixed for five years. At the end of 60 months, the rate will reset for an additional 5 years at the then WSJ Prime rate plus 0.90%, with a floor rate of 4.9%. The loan was arranged through one of Terrydale Capital's correspondent bank relationships.
As their client needed maximum proceeds to complete the deal, Terrydale Capital managed to negotiate with the lender on behalf of the client with the lender to allow up to 80% LTV including closing costs.
During the closing process, three out of four sponsors needed to go out of the country, leaving Terrydale Capital to work with the legal teams on the buyer’s side and the lender’s legal team to ensure all of the necessary preparations were satisfied for the closing process prior to the clients’ departures. This portrays the team’s professionalism and ability to work under pressure on unexpected circumstances.
For more information on the services provided by Terrydale Capital, please visit http://www.terrydalecapital.com
About Us: Headquartered in Dallas, Texas, Terrydale Capital is a leader in commercial real estate financing. The firm has close relationships with the nation’s top banks, lenders & family offices in the industry allowing them to provide the most competitive financing solutions in the market. Terrydale Capital’s staff has over 70+ years of combined real estate experience and have been directly involved in over 500 closed commercial transactions in all asset types nationwide.
Contact Info:
Name: Gregory Gali
Email: Send Email
Organization: Terrydale Capital
Phone: 214-241-4230
Website: http://www.terrydalecapital.com
Release ID: 89079807
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