Quote Originally Posted by bmckenzie67 View Post
Client with three investment Commercial Retail/Restaurant bldgs. looking to refinance out of current 5 -yr. ARM renewed approximately 7 months ago. They are seeking long-term financing (20-30 yr. terms preferred) with no PG. Properties appraised in January 2023 for $12.5MM, and they owe approx. $6MM. Properties are 100 percent occupied, and are located in Tyler, TX.

Please advise if you are interested in funding this asset.
Curious - did you secure a 20/30 year Commercial Mortgage?
If so, how much was the penalty to close out the 7 month ARM?