$18MM Multifamily Recapitalization | Memphis, TN

Structured and arranged a permanent loan to recapitalize a garden-style multifamily complex totaling 436 units.

Challenges

Though newly renovated, the property’s tertiary location was outside the lending footprint of many lenders. Additionally, the sponsor created substantial value by fully renovating and repositioning the property and a standard-sized recapitalization would provide a substantial cash out to the Sponsor.

Solutions

EyzenCo negotiated with a Fannie Mae DUS lender familiar with the market and a repeat lender to the borrower. Calculating prior and ongoing capital investments EyzenCo was able to get the lender comfortable with the cash out component.

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