Financing Amount:
$3,145,000
Purpose:
Cash-Out Refinance
Location:
PHOENIX, AZ
Capital Source:
Credit Union
Transaction Details:

The View at North Mountain is a 72-unit multifamily property located in Phoenix, Arizona. The mismanaged property was acquired by the borrower in 2014 for $1.9 million. Following the acquisition, the borrower performed major interior and exterior renovations to the property which include new landscaping & signage, HVAC replacement, new appliances, new tile flooring, new exterior paint throughout the project, furniture, electrical, and roof replacement.

The $3.15 million loan provided by a California-based credit union, provided a full return of equity back to the borrower, along with additional funds to be applied towards future investment opportunities.

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