Green Tree Place Apartments
- Closed 10/2019
- 196 units built in 1973
- Purchase price: $14,750,000
- $2,225,000 proposed capital improvement program
- 3 year I/O, variable rate bridge debt at years 1-2
- Refinance after year 2 with Freddie Mac 5 year fixed debt
- Projected IRR of 17%-18%, 2.05 multiple to investors