Brick apartment buildings with balconies, landscaped lawns, shrubs, and mature trees under a bright blue sky.
Loan Amount
$8,837,000
Financing Type
Private Debt Fund
Property Type
Multifamily
Greenville, AL / Gautier, MS

Acquisition Bridge Loan

Elowen Capital arranged an $8,837,000 two-year interest-only bridge loan through a private debt fund to support the acquisition and renovation of a three-property affordable housing portfolio totaling 152 units, with two of the properties located in Greenville, AL, and one property located in Gautier, MS. The cross-collateralized loan will fund significant improvements to the properties, stabilize the tenant base, and improve operations.