Main Ridge Apartments

Main Ridge Apartments

  • Projected IRR of 21.47%, 2.30 multiple to investors
  • Closed 11/2020
  • 264 units built in 1980
  • Purchase price: $22,176,000
  • $4,626,800 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
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