Late November Milwaukee Closings
Late November, Bellwether closed an 8 unit apartment building purchase in Milwaukee.
The borrower was a first-time investor, and out-of-state owner. We were able to secure a 70% LTV loan in the 7% range at a long-term fixed rate.
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Also late in the month, Bellwether closed on a mixed-use purchase and rehab property.
This was a three unit, mixed-use property purchase to allow the current note holder to settle the current note balance, property taxes and liens to avoid a foreclosure action.
Funding included purchase money and rehab costs for the new owner to renovate the property for re-lease.