Structured and arranged a high-leverage, short-term bridge loan to recapitalize near term expiring debt on a 352-unit multifamily property in Lauderhill, Florida.
Challenges
Ownership had not yet completed renovations on all the units and significant vacancy still existed in the final phase of the project. Additionally, the challenging neighborhood and lack of operating history made obtaining a full permanent loan difficult. With a near-term maturity of the prior renovation/acquisition loan looming, the client had a tight timeline to recapitalize the debt.
