The 3 property portfolio of apartment building had been recently purchased on an all cash purpose in late 2019. Lev capital was approached to refinance the portfolio with a blanket loan and recapture the sponsors equity. Levraging our relationship with some of the countries top DUS lenders and agency loan faciliators, we were able to get over a major hurtle in the loan process. The properties were non-continguous and therefor most debt shops had told the sponsors the loan would not be able to blanket the 3 properties together. Lev and our friends at Greystone managed to pull off the imossible blanket portfolio loan with Fannie Mae. With IO on the 5 year term and all closing costs covered, the $1.5M sucessfully recapturd the sponsors equity in under a year.