$29,000,000
Memphis, TN
Transaction Type
Acquisition Finance
Non-Recourse
Loan Type
Bridge Loan
Situation & Challenges
- Property had a history of high crime rates
- Property needed extensive CapEx improvements to reposition in the market
- Borrower had a hard close date
Solutions & Highlights
- A10 financed extensive CapEx improvements to address amenity upgrades and deferred maintenance issues to increase market rents
- Borrower had a successful track record of turning around properties with high crime rates