Maine Street Capital financed this 6 building, 40 unit assemblage in downtown Portland, with a non-recourse loan, providing capital to the borrower for property improvements. The loan was structured with a unique “tiered” rate structure with a super low introductory rate for 2 years followed by 5 years at a low fixed rate. In addition, prepayment flexibility was negotiated allowing for a payoff without penalty after 2 years.
