Seeking Long-Term Commercial Financing – 18-Unit Workforce Housing | Pecos, TX | 43%

[Eduardo Cambil]

I’m looking for serious commercial lending guidance (or lender referrals) for a stabilized workforce housing acquisition in Pecos, TX (Permian Basin energy market).

This is not a 1–4 unit DSCR deal, and I am not looking for residential mortgage products.

Below are full details to avoid unnecessary back-and-forth.

🏢 Property Overview

• 18 furnished workforce housing units + manager residence
• Located in Pecos, TX (energy-driven market)
• Built 2017
• Stabilized operations
• Weekly/monthly workforce tenants
• Utilities in place
• Approx. 3 miles from major industrial project

💰 Transaction Structure

• Purchase Price: $800,000
• Recent Appraisal: $1,200,000 (as-is)
• Senior Loan Requested: $520,000
• Senior LTV: ~43% of appraised value
• Seller Carry: $280,000

Seller note terms:
• Fully subordinated
• 0% interest
• $1,200–$1,500/month principal payments
• Balloon 36–48 months (flexible)

LLC borrower.

No agency. No conventional retail mortgage.

📊 Financial Snapshot

• Normalized NOI: approx. $100,000 annually
• DSCR at requested leverage: >2.0x
• Conservative senior structure
• Significant equity cushion (57% total equity position vs appraisal)

Even under stress (NOI ~$75K), DSCR remains above 1.6x on senior debt.

🎯 What We Are Seeking

• Long-term commercial / mini-perm loan
• 20–25 year amortization
• 5–7 year balloon
• Underwritten primarily on property cash flow
• 65–70% LTV acceptable (we are only requesting 43%)
• Reasonable reserve requirements
• LLC borrower

We are not looking for:

• 12-month bridge at 10–12%
• Retail 1–4 unit DSCR
• Lenders capped strictly at purchase price
• Programs requiring large liquidity reserves ($100K–$300K)

🔍 Current Situation

We have already contacted multiple West Texas regional banks and small-balance commercial lenders.

We are now expanding outreach to:

• Commercial DSCR lenders
• Balance sheet lenders
• Debt funds
• Portfolio lenders comfortable with energy markets

⚠️ Sponsorship Context (Transparency)

• U.S.-based guarantor available
• Experienced operator (400+ units) potentially joining as GP
• Low leverage significantly reduces asset risk

This is a conservative structure from an asset perspective.

The primary underwriting focus should be:

✔ Strong DSCR
✔ Low senior LTV
✔ Seller fully subordinated

💡 What I’m Specifically Looking For

If you:

• Are a commercial lender
• Have closed 5+ unit DSCR or small-balance multifamily
• Know a portfolio bank comfortable with Pecos / Permian Basin
• Can structure around strong DSCR and low LTV

Please comment or DM with:

1. Program name

2. Typical LTV/DSCR requirements

3. Reserve requirements

4. Recourse expectations

5. Direct contact info

Serious inquiries only. We are prepared to provide:

• T-12
• Rent roll
• Appraisal
• Operating summary
• Full deal package

Appreciate any meaningful introductions or insights.

— Eduardo