Amount: $18,450,000 • LTV: 70% • Rate: 4.375%
Property
A 97-unit, stabilized garden-style apartment community with full lifestyle amenities located in the Midwest. Park 49 arranged an $18,450,000 senior permanent debt refinance to optimize the asset’s capital structure.
Scenario
Following the successful lease-up and operational stabilization of the 97-unit garden-style multifamily community, the sponsor engaged Park 49 to execute a long-term takeout strategy. The primary objective was retiring elevated, short-term bridge debt and securing favorable permanent debt to maximize cash flow. Park 49 leveraged its capital markets relationships to run a targeted competitive process across agency, life company, and regional bank lenders. Ultimately, Park 49 structured and executed an $18,450,000 senior debt refinance that delivered 70% LTV proceeds. The securing of a 4.375% fixed interest rate significantly reduces ongoing debt service burdens and provides structural stability for the property’s holding period.