Transaction Overview
Shahin Yazdi successfully placed the 75% LTV rate-and-term refinance of an eight-unit apartment building in Palm Springs, California. The Borrower presented significant credit issues, including mortgage defaults and limited verifiable income. Many capital providers are hesitant to lend in the Inland Empire due to housing market perceptions. The subject property’s superior location within the market offered a consistently strong historical cash flow during the worst of the down-turn, allowing the lender to become comfortable with the location and the Borrower’s credit issues. Documentation was provided during the due diligence process to demonstrate a sustainable increase to Borrower global cash-flow.
