Eagle Ridge Apartments

Loan Amount

$35,500,000

Lender

Correspondent Life Company

Loan Type

Permanent Debt

Eagle Ridge is a 216 unit newly constructed apartment complex.  MMCG was successful in finding the right lender to customize a loan for the borrower’s investment strategy. The 15 year fixed rate loan was funded pre-stabilization and included two years of interest-only payments.  The pre-stabilization funding allowed the borrowers to early rate lock and provided for an early exit of their higher rate construction loan.