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