Tallahassee Multifamily Construction Completion
$11,200,000
Tallahassee, FL
- Loan Type:
- Property: Garden-style multifamily complex consisting of 160 apartment units
- Scenario: Proceeds from Trevian's loan were used to pay off the existing defaulted loan, replenish the interest reserve, complete the remaining renovation, lease up the property and sell upon stabilization.
- Result: Trevian works with sponsors who need a lender to step in mid-construction despite previous delays, cost overruns, and changes in scope. Trevian will lend to borrowers who are in default on their existing loans.
