Amount: $15,000,000 • LTV: 67% • Rate: 5.25%
Property
A 15-story, 51-unit Class B multifamily rental built in the 1980s.
Scenario
An experienced regional owner faced a balloon maturity on a prior bridge that had accrued interest. Park 49 advised on the restructuring and replaced the maturing loan with a $15 million senior refinance at 67% LTV and a 5.25% fixed rate. The new facility cleared the existing balance and left non-dilutive proceeds for facade work and interior / common-area upgrades, removing near-term maturity risk while the improvements are completed.