$31MM Multifamily Recapitalization | Memphis, TN

Eyzenberg & Company placed a permanent senior loan to refinance a 384-unit garden-style multifamily community in Memphis, TN. 


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.

$31MM Multifamily Recapitalization | Memphis, TN


Eyzenberg & Company proxied several agency lenders and identified one that was most comfortable with the cash out component and able to rate lock as quickly as possible.  Working through various closing complexities the deal was able to be closed with maximum proceeds and, at the time, below market interest rate.

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