Exterior view of an affordable apartment building in Alabama featuring red brick walls, covered balconies, outdoor stairs, and a landscaped lawn.
Loan Amount
$10,866,000
Financing Type
Private Debt Fund
Property Type
Multifamily
Theodore, AL

Acquisition Bridge Loan

Elowen Capital arranged $10,866,000 in two-year interest-only bridge loans through a private debt fund to support the acquisition and renovation of a three-property affordable housing portfolio totaling 189 units in Theodore, AL. The funds will be used to significantly improve the properties, stabilize the tenant base, and improve operations.