Tiller Hill Capital Closes $1,760,000 Acquisition Loan on Multi-Family Property in Porterville, CA

Tiller Hill Capital has closed a $1,760,000 loan for the acquisition of a 43 unit multi-familyproperty in Porterville, CA. Financing challenges included significant deferred maintenance, tertiary market location and a tight timeline dictated by a 1031 exchange. Local lenders were offering only short-term fixed rate financing with rates over 5%. We arranged a 12-year fixed-rate, non-recourse loan with a interest in the low 4’s and closed in time to satisfy the 1031 exchange.