$16,255,000
Denver, CO
Transaction Type
Acquisition
Non-Recourse
Loan Type
Bridge Loan
Situation & Challenges
- Class B, 65-unit 9-story multifamily property
- Property required interior unit and building improvements
- Property was stabilized with in-place rent substantially below market
Solutions & Highlights
- Experienced Sponsor group that specializes in value-add multifamily projects
- A10 structured CapEx plan and budget to renovate and reposition the property to achieve a higher rental price point in the market
- Property is well located with convenient access to downtown Denver
- 3-year, floating rate, full term interest only