Win some, Lose some

2 Replies

I hope this doesn't sound to much like a "promotion" its not meant to be. I assume real estate and finance brokers can appreciate this situation. After several months of working with a borrower seeking a multifamily property we find a great $5.2M student housing acquisition. The property is completely underwritten, CAP rate of about 7%. Should be a slam dunk, right! Unfortunately our borrower gets cold feet at the 11th hour and refused to sign the term sheet. Now we are all left at the alter. In this game, these things happen, the thing about Real Estate is that it can be risky. On the bright side if anyone is looking for a new multifamily acquisition, feel free to reach out to me; 75% financing is already lined up!