Monte Vista and Mellow Square are two, 16-unit, multifamily properties located in Phoenix, Arizona. The mismanaged properties were acquired by the borrower in March of 2016 for a combined total of $1,010,000. Following the acquisition, the borrower performed several renovations to both properties which include, new paint, parking lot resurfacing, updated landscaping, and overall re-branding of the assets.

The $1.26 million loan provided by a regional bank, was used to pay off the existing, short term acquisition loan, and provide cash back to the borrower.