$14,400,000 Bridge Loan for Apartment Property

Transaction Description:

$14,400,000 Bridge Loan for Apartment Property - Acquisition & Value-Add:

140-unit Apartment Property Southwest US

75% LTC


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.