Green Tree Place Apartments

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
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