MULTIFAMILY VALUE-ADD BRIDGE
- RATE: L + 485 (SENIOR AND MEZZ)
- TERM: 3 YEARS (+2 ONE-YEAR EXTENSIONS)
- LTC: 85%
- POINTS: 3%
- GUARANTY: NON-RECOURSE
MBP secured a loan for the acquisition and rehabilitation of two apartment complexes with a total of 289 units in Birmingham, AL. This was the borrowers’ first acquisition in this secondary market and MBP was able to execute a 4-week close with a flexible, senior/mezzanine structure in order to obtain competitive leverage and pricing. Even though the appraisal came in short, MBP and the lender were able to structure the transaction with the same proceeds to ensure smooth execution. The project’s stabilized debt yield didn’t meet typical lender constraints, so MBP received an exception based on the strength of the sponsorship and their business plan.
MBP specializes in debt and equity placement for all asset classes. Our extensive network of unique capital sources in development and permanent financing and extensive capital markets knowledge allows us to tackle a wide variety of transactions, regardless of complexity or size, to benefit our clients.
MBP has a team of dedicated and experienced finance professionals with you at every step. We are consistently improving and expanding our capital market relationships and are committed to exceeding our client's expectations through these relationships, innovative solutions, and outstanding work ethic.
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Work with us to see what our talented team, vast network of debt and equity providers, and capital markets expertise can do for you.