FM Capital Originates $29 Million Loan in Under 2 Weeks

Jan 18, 2020

FM Capital recently originated a $29M bridge loan for the acquisition of a 238-unit multifamily property in Fairless Hills, Pennsylvania, a residential Philadelphia suburb. Built in 1973, Hidden Forest Apartments comprises 10 two-story apartment buildings and benefits from a central location, just minutes away from the Fairless Hills Towne Center and the I-295.
The non-recourse loan is a short term 12-month loan.
The challenge this deal presented, was the short timeframe in which the borrower needed to close. With funds demanded to be invested by a certain date, FM Capital was able to execute the loan quickly and efficiently.
“Our ability to understand each real estate’s market enabled a rapid execution that met the entirety of the sponsor’s needs” says FM Capital’s Principal, Aaron Kurlansky