Case Study: $18MM Multifamily Property | Recapitalization | Memphis, TN
Structured and arranged a permanent loan to recapitalize garden-style multifamily complexes totaling 436 units.
Though newly renovated, the properties tertiary location was outside the lending footprint of many lenders. Additionally, the sponsor created substantial value by fully renovating and repositioning the property and a standard sized recapitalization would provide a substantial cash out to the Sponsor.
EyzenCo negotiated with a Fannie Mae DUS lender familiar with the market and a repeat lender to the borrower. Calculating prior and ongoing capital investments EyzenCo was able to get the lender comfortable with the cash out component.