Multifamily Case Studies

To step-up her game, during a six-month period, Janette took a temporary position under the title Transaction Coordinator for one of our nation’s top 10 commercial mortgage companies in their Investment Sales Division. According to the Mortgage Bankers Association, in 2022 this commercial mortgage company also ranked as a top ten Fannie Mae multifamily lender and third largest HUD multifamily lender in 2021. During this short period, she successfully fulfilled and exceeded all requirements within each agreement’s allotment of time, securing all due-diligence obligations and removing all contingencies to close successfully. The following are just a few multifamily transactions Janette closed for the company:

253 Units – Indio, CA Sale Price: $21,250,000.00
166 Units – Loma Linda, CA Sale Price: $26,500,000.00

101 Units – La Verne, CA Sale Price: $25,250,000.00
212 Units – Moreno Valley, CA Sale Price: $27,600,000.00
104 Units – La Puente, CA Sale Price: $18,890,000.00
103 Units – Palm Springs, CA Sale Price: $15,100,000.00

Challenges:

Each multifamily commercial property had its share of complexities. Items, such as Lis pendens and confirming the accuracy of all income streams, reminding buyers of their increased deposits, coordinating inspections for all parties involved, and providing correct documentation for legal teams. Additionally, the importance of obtaining the seller’s financials, loans, permits, and property inventory to ensure no delays in the closing phase, ultimately providing the mortgage company with the necessary closing checklist items to get paid promptly.

Solutions:

Strategic planning, provide solutions within each party’s transaction’s challenges (preferably foreseeable challenges), good listening skills, thoroughly follow through with each agreement point, be patient and treat everyone justly.