JV Equity & Bridge Loan
Multifamily | Birmingham, AL
Majority Capital Advisors provided a $11,840,000 full capital stack solution to finance the acquisition of a 156-unit value add multifamily property in Birmingham, AL. One of our off-shore capital sources provided 90% JV equity for the transaction. A 76% loan-to-cost bridge was arranged with a nationally recognized lender.?
The structured deal provides the sponsor with the financing needed to renovate and reposition the asset over the next 24 – 36 months.?Planned interior improvements include new countertops, stainless steel appliance upgrades and new cabinetry. Exterior upgrades include repainting the exteriors, asphalt repairs and restriping the parking lot, pool/amenity improvements, and landscaping.