Exterior view of Susanna Ridge apartments featuring red brick buildings, covered porches, landscaped lawns, concrete walkways, and mature trees.
Loan Amount
$1,000,000
Financing Type
Regional Bank
Property Type
Multifamily
Greenville, AL

Acquisition Loan

Elowen Capital arranged a $1,000,000 5-year fixed-rate loan with 12 months of interest-only payments through a regional bank for the acquisition of a 33-unit affordable housing property located in Greenville, AL. The loan included acquisition funding along with future funding for property improvements, positioning the sponsor to stabilize the tenant base and improve operations.