FM Capital originated a $15,500,000 loan secured by a 508 unit apartment complex in Columbus, OH.
Aug 31, 2020
FM Capital originated a $15,500,000 loan secured by a 508 unit apartment complex in Columbus, OH. The loan proceeds were used to repay seller held financing with a short maturity. Due to COVID the Borrowers initial lender failed to close and they reached out to SC for a reliable execution. At the time of closing the asset was 88% occupied and the loan closed in under 3 weeks.
