Multifamily

Loan Highlights

  • Location: Columbia, SC
  • Product Type: Multifamily Residential
  • Loan Amount: $18,140,000

Description

Multifamily

Revere Capital funded a $18,140,000 loan secured by a first lien on a 419-unit apartment complex in Columbia, SC.

  • Loan proceeds were used to acquire the property and to fund a reserve account for future capital improvements
  • The Borrower is an institutional real estate investment manager with current ownership of approximately 5,000 apartment units in the Southeast.
  • Transaction closed in under 7 days to take advantage of a price discount included in the Purchase and Sale Agreement