Love Funding recently closed a $15,461,400 non-recourse loan for the refinancing of Bravado on 27th, a 249-unit multifamily housing complex located in Kent, Wash. Anvar originated the loan through the FHA 223(f) program and was able to lock in a 3.75 percent interest rate with a 35-year term and amortization. Because the original loan on the property had reached its maturity date, Love Funding worked closely with HUD to get the deal closed in 20 days from the date of commitment.
Bravado on 27th multifamily housing complex is a gated community that consists of one- and two-bedroom apartment homes. Each unit includes hardwood flooring, a wood burning fireplace, a private balcony/patio, and a kitchen fully equipped with a dishwasher, garbage disposal, stove and refrigerator. The complex also provides residents with access to three onsite laundry facilities. Other amenities include two outdoor pools, an Internet café, a fitness center, a picnic area, a playground, a business center and a clubhouse.
“Love Funding did an excellent job to ensure our loan was closed quickly and efficiently,” said Gurmeet Singh, Managing Member at Bravado Apartments, LLC. “They were with me every step of the way and impressed me with his diligence and professionalism. I look forward to working with Love Funding again in the future.”