The Multifamily team provided acquisition financing for this 12-unit multifamily property in Provo, Utah. Unique success story because the Sponsor is a first-time multifamily owner and we were able to secure a Fannie Mae Small Balance Loan. Fannie Mae typically requires 1-2 years prior multifamily ownership experience but we were able to make it happen. Fannie Mae provided the best terms compared to other local banks and credit unions who were competing for the deal.
