One asset. One note. One clear dislocation. 8.71%.
Sage Brush Village, a stabilized multifamily property in Odessa. $1,600,000 at 8.71% fixed, held by Citibank, maturing March 1, 2027.L1 A single-asset refinance with a clean, verifiable spread story.
| Attribute | Detail | Value | |
|---|---|---|---|
| Collateral | Sage Brush Village, multifamily | 3250 W 8th St | |
| Lender | Citibank | First lien | |
| Coupon | Fixed | 8.71% | |
| Maturity | Fixed term | Mar 1, 2027 | |
| Note Balance | $1,600,000 |
A stabilized, operating apartment community. Verified, not assumed.
Sage Brush Village is a live multifamily property — pool, fitness center, on-site management, active tenancy.G1 Asset class confirmed against public record and the borrower entity of record.
The coupon sits 447 bps over the 5-Year Treasury.
CMT at 4.23%.T1 Current placement: 200–250 bps over, or 6.23–6.73%, indicative.R1 The 8.71% coupon clears the top of that range by 198 bps.
Model the range. Every figure resolves live.
$1,600,000 against the indicative range, either structure. Coverage resolves on NOI entry — sourced from the rent roll, never assumed.Gap
Indicative modeling only. Not a live market feed, a rate lock, or a commitment. Final coupon, structure, and coverage requirements are established at underwriting.
Facility
$1,600,000 refinance, first lien on Sage Brush Village, rate/term or cash-out, to 75% LTV.
Term
Five-year fixed, 30-year amortization, no prepayment penalty. Single-asset execution.
Exit
Refinance or disposition at term. Standard five-year fixed, no balloon surprise.
Pricing is settled. Two items gate the term sheet.
Neither touches the spread. Both are documentation the lender requires before pricing commits.
Coverage unconfirmed
Portfolio NOI and rent roll are not yet on file. Debt service coverage cannot be finalized until current operating statements are provided.
Review requirement →Valuation pending
A single appraisal assignment on the property. Ordered during underwriting; LTV confirmed against the result.
Review requirement →Four facts proven. Three close the deal.
A verifiable 447 bps coupon dislocation on a stabilized asset. Two items to a firm term sheet.
Operating package
Portfolio rent roll, three years of entity financials or returns, interim statements, and the business debt schedule. Resolves coverage.
Sponsor package
Current personal financial statement, three years personal returns, cost basis and acquisition date. Anchors valuation and sponsor underwriting.