EOS
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EOS
Location: Alexandria, VAProperty Type: Multifamily
Size: 1,180 units
Investment Type: Mezzanine
Investment Size: $8,000,000
Closing Date: February 2009
RCG Longview originated an $8,000,000 mezzanine loan for this 95% occupied, 1,180 unit, mid-rise multifamily property located in Alexandria, Virginia. The Property, which was originally built in 1963 and 1967, was renovated between 2005 and 2010 and sits on approximately 29 acres. Amenities at the Property include a clubhouse, daycare center, tennis and volleyball courts, fitness center, playground, and a pool. The borrower has the ability to request the earn-out funds upon achieving certain performance hurdles.
