Chase Commercial Term Lending: Multifamily Lending Update
Chase Commercial Term Lending client manager Greg Werly financed the purchase of a 215-unit multifamily, two-building portfolio in Northwest DC. The deal: 15-year term, 10-year fixed rate, 10 years of interest-only with a long-term rate lock (and executed in a volatile interest-rate market). Greg tells us that, after making the economics work from an interest-rate and interest-only perspective, what won the deal for Chase was the certainty of execution associated with a balance sheet deal, the ability to lock the interest rate on day one, and most importantly, the lack of any lender or third-party costs associated with the deal, which was something this multi-generational family had never seen before. For a limited time, the following fees are paid by Chase when purchasing or refinancing your stabilized apartment building as part of its “Four For Free” special: processing fee, appraisal fee, filing fee and lender legal fees. For more info on our Bisnow partner, click here.