$1,800,000 Multifamily Refinance Loan Closing

513 Capital, a Cincinnati-based finance intermediary, is pleased to announce the closing of a $1.8MM Conventional Multifamily loan.

The owners of a 72-unit multifamily property north of Dayton, Ohio had their existing debt maturing. The loan-to-value was very low, and the cash flow at the property was exceptional. Our task was to pitch the market to find the best rate and terms for the owners.

513 Capital was able to secure 5.75% financing on a 1-year resetting rolling 5-year term with a Regional Bank. The bank’s origination fee was zero, and the bank even picked up the appraisal costs. The amortization was 20 years.

513 Capital specializes in bank, SBA, CMBS, and private commercial real estate funding.

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