Loan amount
$5,540,000
Loan type
As-Is Property Value
$8,150,000
LTV
68%
{LTV}
Property type
Multifamily
Borrower Details
Credit score
650
Deal experience
10 deals
This loan scenario was submitted by a Broker
Property Details
State
Michigan
Loan Details
Additional Loan Information
This portfolio includes 13 buildings with 142 units located within 20 miles SW of Detroit, MI. Our plan is to reposition the asset by pre-leasing vacated units, completing turnovers, and raising rental rents to market levels; investing in structures; renovating portfolio aesthetics; and increasing cash-flow and market value. Top-line and bottom-line growth are expected throughout our CapEx term, and are expected to be above FY2018 figures in 2020. Colliers International and BALCO Properties is providing project/construction management services, and Full House Marketing is staffing each property with leasing specialist(s) in order to take the lead on the lease-up.
Status
Closed
Created
November 16, 2019 - 2:48pm
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