Bridge Loan – Value-Add 44-Unit Apartment

bridgemultifamily

$4,650,000

Bridge Loan – Value-Add 44-Unit Apartment

Salem, OR

Acquisition of a 1990s-vintage value-add 44-unit apartment with deferred maintenance. Rents 18% below market with a 40% expense ratio. Included future funding facility for exterior renovations.

Deal Terms

Loan Amount$4,650,000

Term24 Months

Rate7.99% Fixed

LTC80%

Fee1% in, no exit

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