Fm Capital originates $9.9 Million Bridge Loan for Residential community in Stone Mountain, GA

May 10, 2019

FM Capital is pleased to announce the closing of a $9.9 Million bridge loan for the acquisition of Terra Creek Apartments, a 193-unit multifamily property in Stone Mountain, GA. The property benefits from being easily accessible to US 78 and I-285. Joe Back, a vice president of originations at FM Capital, arranged the origination.

“The Borrower plans on injecting over $1MM in capex to renovate many of the units as well as bringing some of the down units back online. Sponsorship also owns Golden Gate Townhomes, a 316 unit complex adjacent to the property that he has owned and managed since 2012.” – Joe Back