This post has been de-listed
It is no longer included in search results and normal feeds (front page, hot posts, subreddit posts, etc). It remains visible only via the author's post history.
0
Covenant Default - Multifamily Commercial Property
Post Flair (click to view more posts with a particular flair)
Post Body
I'm a partner in a small real estate investment company. We have a multifamily commercial property in Ohio. It recently went into covenant default as failed to meet our Debt Service Coverage Ratio of 1.20x.
To resolve, the bank gave us options. We either:
A. Pay down the loan by 20%.
B. Sell.
C. Refinance.
Has anyone had this experience before? What was the situation and the resolution?
Author
Account Strength
100%
Account Age
5 years
Verified Email
Yes
Verified Flair
No
Total Karma
3,264
Link Karma
359
Comment Karma
2,905
Profile updated: 1 week ago
Posts updated: 1 year ago
Subreddit
Post Details
We try to extract some basic information from the post title. This is not
always successful or accurate, please use your best judgement and compare
these values to the post title and body for confirmation.
- Posted
- 1 year ago
- Reddit URL
- View post on reddit.com
- External URL
- reddit.com/r/realestatei...