Multi-Family Acquisition Mooresville, NC

$2,600,000

Multi-family Acquisition
Mooresville, NC

A $2.60MM Mezzanine Loan secured by a pledge of Borrower’s equity interest in Class B, 200’s vintage, 201 unit garden-style multi-family property in Mooresvile, NC, an affluent suburb 30-miles north of Charlotte. The Borrower used the proceeds to acquire the Property and fund future capital expenditures. The Borrower’s business plan included renovating the Property and increasing its curb appeal to drive increased rents.