Illinois and Indiana Multifamily Portfolio Recapitalization
$15,800,000
Elgin, IL and Valparaiso, IN
- Loan Type: Recapitalization Financing
- Property: Two multifamily complexes comprised of 322 garden-style apartment units.
- Scenario: Trevian's loan was used to pay off a matured first mortgage on their over-leveraged asset by pulling equity out of the other, lower-leveraged asset.
- Result: Trevian provides loans to sponsors who have defaulted on their existing debt and need to stave off foreclosure. Trevian's financing brought the combined LTV below conventional debt capacity in order to provide a clear path for a conventional exit.
