BridgeInvest Closes a $24 MM Condo Inventory Loan in Atlanta, GA
1st Priority Mortgage
BridgeInvest is excited to announce the successful closing of a $24,000,000 senior-secured condo inventory loan for the refinancing of 65 luxury condominium units. The property consists of 150 modern, Class-A condos at J5 Midtown Contemporary Homes in Atlanta, GA. Since completion, the Sponsor has sold 85 units, leaving 65 remaining as collateral for the Loan.
- Cash-neutral refinancing provides the Sponsor with ample time to complete the sellout of the property.
- Flexible loan structure and release provisions facilitate borrower’s business plan execution.
- Repeat borrower, exemplifying the value proposition BridgeInvest provides its clients.