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Grand Prairie, TX
An investor needed financing for the purchase of a scattered site multifamily portfolio in the Dallas suburb of Grand Prairie, Texas. The 24 units were on the same street and required a portfolio loan.
By the Numbers:
24
Units
$1.9M
Loan Amount
$2.625M
Purchase Price
70%
Loan to Cost Leverage
65%
Loan to Value Leverage
The Opportunity
An investor needed financing for the purchase of a scattered site multifamily portfolio in the Dallas suburb of Grand Prairie, Texas. The 24 units were on the same street and required a portfolio loan.
The investor purchasing the Class C units planned on minor cosmetic rehabs to upgrade rents and occupancy. The investor and their broker approached Lima One.
The Solution
Lima One financed the purchase with a small rehab budget, allowing the investor to purchase the property in the fast-growing Dallas-Fort Worth MSA. After the upgrades, the workforce in the metroplex will have more quality living options, and the investor will have a cash-flowing property.
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