Harborview Capital Partners Secures $5,282,600 HUD Refinance For Keystone Apartments In Brandon

The property involved in this transaction is Keystone Apartments, located at 1316 East Keystone Drive in Brandon. This multifamily asset comprises 60 units and has been refinanced under a HUD 223(f) loan program, featuring a loan amount of $5,282,600 with a 35-year term and amortization. The refinancing effort allowed for an 80% loan-to-value ratio and a debt service coverage ratio of 1.15, facilitating a significant cash-out provision exceeding $1 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,282,600
• Units: 60
• Address: 1316 East Keystone Drive
• Market: Brandon
• Lender: First American Capital Group & Harborview Capital Partners
• Originators: Eli Osdoba & Sender Galbut - Harborview Capital Partners
• Loan Type: Refinance
• Loan Terms: HUD 223(f) Loan - 35 year term/amortization, 80% LTV, 1.15x DSCR, large cash out

Eli Osdoba and Sender Galbut played critical roles in this transaction as originators from Harborview Capital Partners, a firm that specializes in providing comprehensive financing solutions. They successfully arranged a long-term, low fixed-rate HUD-insured loan, enhancing the borrowers' liquidity and securing lower long-term financing costs. The effort exemplifies Harborview Capital Partners' commitment to delivering customized financing options, including a variety of lending products across the real estate sector.