Eyzenberg & Company placed a permanent senior loan to refinance a 384-unit garden-style multifamily community in Memphis, TN.
Challenges
The Borrower had completed their crime mitigation and lease up business plan thereby stabilizing the apartment community. With a turnaround complete the property’s value increased substantially during the short ownership period creating an opportunity for a significant cash out. Furthermore, a volatile interest rates environment and an existing pilot program made the closing process more complex and time sensitive.
