Barry Slatt Mortgage CEO, Daniel Friedeberg, along with Vice President Kelvin Lam, and Analyst Jason Wang, recently closed a $12,500,000 loan on a 105-unit multi-family property located in Davis, California. The loan was used to retire an existing maturing loan and provide attractive long-term financing in a rising interest rate environment.
The loan had an aggressive 10-year fixed rate term with a 30-year amortization. Friedeberg and his team were chosen for the assignment because of their long-term relationship with the borrower and extensive knowledge and experience in the multi-family financing market.
Barry Slatt Mortgage will be servicing the loan as part of their $4+ billion servicing portfolio.