Deal Details
Private Loan Type
Refinance
Approx. Funding Date
03/27/2025
Property Type
Property City
El Paso
Property State
TX
Loan Term (months)
360
Lien Type
Senior
Term
30 years
Rate Type
Fixed
Location Type
Urban
Number of Units
30
Borrower's Plan
Long-Term Rental
Deal Summary
I Fund Cities, an alternative lending platform, funded a $5,956,050 DSCR loan secured by a portfolio of 30 single-family rental homes in El Paso, TX. This repeat Borrower is one of the largest homebuilders in the area and also operates several other successful businesses. Referred by a local debt provider, the Borrower sought to refinance construction loans and recently built properties owned free and clear to pay down bank lines of credit and access cash for purchasing inventory lots. We provided approximately $4.5M in proceeds, which freed up capital on their existing lines of credit. With fixed-rate debt and no prepayment penalties, the Borrower can now direct funds toward activities and investments that generate higher returns than their cost of debt. iFC’s flexibility on DSCR requirements and ability to close quickly brought this 30-property portfolio to the finish line. The loan term was 30 years. This DSCR loan was funded in March 2025.
Funded By
i Fund Cities
Direct Lender for Builders and Rehabbers
Dealmakers
Jack Pagliarini
Territory Manager - Dallas, TX
Jack leads the i Fund Cities team in Dallas, TX. He is responsible for business development and client management. He also serves as a loan officer for borrowers in Texas, using his local and technical expertise to provide flexible funding solutions that bring value to the closing table and beyond.
Jack is a former college baseball player, an avid opportunist, and a problem solver. He is guided by curiosity and has an unwavering drive for personal development and positive impact on the lives of those around him.
Jack uses his experience working in teams to walk alongside investors, collaborating and overcoming obstacles with them to produce accommodating, reliable solutions for their real estate investment goals.
Jack earned a Bachelor of Arts degree in economics and a minor in business at Northwestern University. He also earned a master's in management studies at Kellogg School of Management.
He is a committed runner and reader and, of special note for those going out on the town with him, Jack never shies away from a karaoke mic!
Borrower
Investor
“You guys are just so easy to work with and flexible to help us do what we’re looking to do.”