Multi-Family Recapitalization Fort Lauderdale, FL

$8,500,000

Multi-family Recapitalization
Fort Lauderdale, FL

Originated an $8.5MM Preferred Equity Investment on a 639-unit residential building in downtown Fort Lauderdale, FL. Proceeds were used cover cost overruns and carry costs as the property continues to lease up to stabilization. The financing was provided to a repeat borrower and supplemented existing debt of $166MM. The Borrower sought a fast-paced lender with certainty of execution and RMWC was able to close on the transaction within the desired timeframe.