The sponsor approached Kay Finance in need of acquisition financing for Northtowne Apartments - a 90 unit - three property portfolio located in Pensacola, Florida.
Kay successfully sourced a high leverage acquisition loan which will allow the borrower to invest $700K+ of capex between unit interior and exterior renovations.
Both Borrower and Lender worked through a challenging financing environment to close the loan in 47 days from application.
24 month term
47 day close