$14,400,000 Bridge Loan for Apartment Property
$14,400,000 Bridge Loan for Apartment Property - Acquisition & Value-Add:
140-unit Apartment Property Southwest US
Sub-5.00% Floating Rate
ZERO points in
Heavy Renovation Plan
New Debt Fund Relationship
$14,400,000 Bridge Loan for a 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 on the property’s transit-oriented location. Mandri Capital was able to source multiple loan proposals by highlighting sponsor’s deep institutional experience and pedigree, coupled with detailed comp info in the immediate area.
Mandri Capital fully vetted the debt fund lender’s proposal upfront in order to assure timely execution for this competitive acquisition, as well as, was able to source an attractive, non-recourse structure for this new client.