Brick apartment community with balconies, landscaped grounds, parking spaces, and mature trees under a clear blue sky.
Loan Amount
$5,780,000
Financing Type
Private Debt Fund
Property Type
Multifamily
Ocean Springs, MS / Greenville, GA

Acquisition Bridge Loan

Elowen Capital arranged a $5,780,000 two-year interest-only bridge loan through a private debt fund to support the acquisition and renovation of a two-property affordable housing portfolio totaling 92 units, one property in Ocean Springs, MS, and the other in Greenville, GA. The cross-collateralized loan will fund significant improvements to the properties, stabilize the tenant base, and improve operations.