$16 Million|Multifamily

Challenges

• Our borrower was looking to purchase two multifamily properties, totaling 393-units, in Montgomery, Alabama. They were looking to renovate the units and to increase occupancy since more than 1/3 of the units had been vacant for more than a year.
• They needed a lender that was willing to take the time to understand the condition of each building and structure a loan that would allow them to fully execute their business plan.
• The borrower was looking for certainty of execution with this purchase.

Solutions

• We took the time to understand our borrowers needs and created a flexible loan structure that provided the borrower capital for Capex and unit renovations so they would be able to lease up the units.
• We worked with the borrower through the entire purchase process and gave them the peace of mind we would execute as promised.
• We were comfortable with the sponsor’s experience and knew that we could help them successfully execute their business plan.