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FM Capital Originated $15 Million Bridge Loan for Richmond Multifamily

FM Capital Originated $15 Million Bridge Loan for Richmond Multifamily

Oct 10, 2018

FM Capital, a leading bridge lender providing tailored debt solutions announced today the closing of a $15 million bridge loan for 528-unit multifamily property in Richmond, Virginia.

The seller purchased the asset in 2015, however the asset was recently placed into receivership and a court ordered auction was conducted. The winning bidder chose FM Capital because of their intimate understanding of distressed multifamily assets and their quick and guaranteed execution.

FM Capital closed the loan within 14-days from the initial contact. FM Capital's deep understanding of commercial real estate and ownership-mentality sets FM Capital apart from the competition. The bridge loan program provides loans from $3 Million to $25 Million throughout the United States.