Multi-Family – 22 Units

Type: Purchase
Location: Miami, FL
Loan Amount: $1,040,000
Amortization: 5/1 ARM – 30 Years
Rate: 6.00%
LTV: 65% LTV Purchase

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AIM Funding Group, LLC and LaSalle Bank Provides $1,040,000 Loan for the acquisition of 22 unit Apartment Building located in Miami, FL.

Miami, FL – August 2005

Multifamily Loan Summary:

AIM Funding Group, LLC closed a $1,040,000 loan in Miami, FL for the acquisition of a 22 unit Apartment Building in August of 2005. The loan has an initial 5-year fixed rate, and is fully amortizing over 30 years. This loan also features a 5-year Interest Only payment period for increased cash flow. AIM Funding Group originated the loan in conjunction with one of its correspondent lenders, LaSalle Bank.

Phil Zeman and Mark Moyano of AIM Funding Group were the loan originators for the transaction. The transaction required underwriting exceptions due to liquidity and credit issues of the borrower along with a discounted appraised value due to some non-conforming units.

About AIM Funding Group:

AIM Funding Group is a premier provider of multifamily and commercial loan financing for commercial real estate investors. AIM Funding Group brings an extensive network of lending sources, structured finance experience with a focus on multifamily properties throughout the country. AIM Funding Groups office is located in Coral Springs, FL. Company information can be found at www.aimfundinggroup.com.

 

 

Property Photos

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