This client was coming off of a CMBS loan in California on a property where he needed 70% LTV. He really needed a non-recourse loan because he did not want to sign a personal guarantee to protect his portfolio. There were two problems he was having with this. His liquidity and net-worth were not considered sufficient for a loan of this size. It took some convincing but we were able to secure him a 30-year Agency loan at 5.36% fixed for 10 years. Most importantly, it was non-recourse and this is exactly what he needed.
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