Epic Nationwide leverages lender network to close challenging multifamily deal

Epic Nationwide leveraged its lender network and market knowledge to close a deal that many lenders would shy away from. The property is a 24-unit apartment building in the South Bay area of Los Angeles. One-third of the units were non-conforming. The property had operated this way for 30 years and the seller and buyer had no intention of making the property legal and conforming. Epic went to work for their client to find a lender that would not only do the deal but structure it in a way that is a win-win. Many lenders won’t touch a deal like this and if they do, they will offer very low leverage, likely under 50%. Epic was able to find a lender willing to lend 100% of land value, which translated to 65% loan to value. The lender offered a 10-year fixed rate at 3.75%. If your next project could benefit from our extensive lender network and creative loan solutions, let’s talk. Learn more about our loan programs here.