Mandri Capital is pleased to announce our largest closing to date! This $14.4M Bridge Loan for a class B Apartment property in Phoenix, AZ has pushed Mandri Capital over $100M in commercial real estate debt and equity financings since our inception in 2018.
Here are some more details about the deal:
$14,400,000 Bridge Loan for a 137-unit, Class-B Apartment Property located in the Southwest US. The business plan called for a heavy value-add renovation in order to bring rents to market and unlock the full potential of the property’s transit-oriented location. The deal was structured at 75% LTC, a sub-5.0% floating rate, non-recourse, and ZERO points in. Please see above for a photo of the property.
Mandri Capital worked with an existing commercial real estate lender relationship to provide an attractive, non-recourse structure for this successful and expanding regional developer. This deal was unique as it was the first institutional lender relationship Mandri Capital had developed for this repeat client.
For any commercial real estate debt and financing needs please contact our founder Max Friedman directly at (310) 554-6401!
