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North Carolina Apartments

Overview: $3,800,000 loan secured by 130-unit apartment complex on 18-acre parcel in Asheville, North Carolina.

Timing: Less than 30 days from signed term sheet to closing.

Unique Characteristics:
  • Capital used to acquire existing apartment complex for potenital condominium conversion.
  • Loan provides funds for current property improvement to increase rents and cash flow.
  • Loan features unique release price structure that allows borrower to share in net sale proceeds of each unit.
  • Extension option provides borrower flexibility with loan term.
  • Complex provides tenants with affordable ownership option.
 
 

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