$12.65 Million | Multifamily
- Loan Amount: $12,645,000
- Loan Term: 24 Months
- LTV: 70%
• The borrower needed an acquisition loan to purchase an unstabilized 54-unit multifamily property in Detroit, MI.
• As part of their business plan, they needed capital to stabilize the property in order to qualify for agency financing.
• We understood the borrower’s business plan and created a flexible loan structure that provided acquisition capital and Capex funds used to stabilize the property.
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