Durham Independent Living Recapitalization
$6,075,000
Durham, NC
- Loan Type: Recapitalization
- Property: Independent senior living facility comprised of 99 units.
- Scenario: Trevian's loan was used to refinance an existing senior loan and return equity to the sponsor group, which they used to effectuate the time-of-the-essence acquisition of another senior living conversion project.
- Result: Trevian can help sponsors access liquidity by providing cash-out refis on low-leveraged assets. This transaction was complicated by the fact that the primary sponsor was party to litigation.
