FM Capital Arranged a $58,000,000 Loan Secured by a 247 Unit Apartment Complex in Hollywood, FL.
Oct 2, 2020
FM Capital arranged a $58,000,000 loan secured by a 247 unit apartment complex in Hollywood, FL. The loan proceeds were used to repay a higher rate construction loan at maturity. Due to COVID the Borrowers initial lender failed to close, and they reached out to FM Capital for a reliable execution. At the time of closing the asset was 90% completed and did not yet receive a TCO.