Creative Financing

[Greg Gallucci]

I have the opportunity to purchase a 100 unit apartment complex. The owner had recently taken out a CMBS loan that offers no ability to prepay without a significant penalty. We would need to assume the loan at a relatively unfavorable rate and put $1.2mm down for a $3.4 - 3.8mm property. I am trying to think of another way to acquire the property without assuming the loan and having to put out 30%+ for a down payment. Possibly a Master Lease. Anyone have a good strategy for this?

Thanks

Greg