$22MM Multifamily Acquisition | Huntsville, AL

Placed a bridge loan to acquire and reposition two adjacent garden rental communities, totaling 375 units and 318,538 square feet, in Huntsville, AL.


The assets were experiencing significant vacancy and higher-than-average delinquency rates. The sponsors’ strategy would entail creating additional vacancy to improve the credit quality of the tenancy base.
$22MM Multifamily Acquisition | Huntsville, AL


Conducted a comprehensive marketing process to identify a lender willing to underwrite a turnaround business plan in this market. Additionally, by structuring a partial recourse component with a burn off mechanism, a bank was willing to provide the bridge loan at extremely competitive rates. The reduced rate removed the necessity for an interest reserve, resulting in higher disbursed proceeds at closing.

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