$31,090,000
Charlotte, NC
Transaction Type
Acquisition
Non-Recourse
Loan Type
Bridge Portfolio
Situation & Challenges
- Multiple TIC member organizational structure
- 2-Class A, student housing property portfolio
- Borrower’s business plan included raising rents and potentially converting to conventional use
Solutions & Highlights
- Properties are located in a strong submarket near the University of North Carolina Charlotte
- Out of town Borrower with significant experience in the local, Charlotte, NC market
- Quick loan close execution
- 3-year, floating rate, full term interest only execution with CapEx facility