Property: Multi-Family (5+ unit)
Deal Type: Cash-Out Refinance
Loan Amount: $1,090,000
This multi-family property located along the Russian River in Sonoma County, California features 8 detached housing units nestled within the woods. The property’s owner did a cash-out refinance via their broker and Stronghill in order to get a better rate as well as to recoup funds used to rehab the property that year. Stronghill Capital was able to offer the borrower a rate that was lower than originally requested and closed quickly once a title issue was cleared. The broker was paid 1 point at closing.