Riverdale, GA : American Street Capital (“ASC”) announced today that it has arranged an $8.1 million cash-out refinance loan for a 150-unit multifamily complex in Riverdale, GA.
Located approximately 13 miles from the Atlanta central business district, Riverdale is a southern suburb with proximity to Hartfield-Jackson Atlanta International Airport. Built in 1972 and renovated in 2019, the 20-building community is situated on 13.91 acres and consists of 110 two-bedroom and 40 three-bedroom apartments. Additional amenities include 276 surface parking spaces, a common laundry facility, playground and an on-site property
manager.
ASC worked exclusively on behalf of their client to secure the high leverage cash-out refinance loan structured with a non-recourse, 12-year fixed term with two years of interest-only on a 30-year amortization. The loan was placed with a correspondent agency lender and retired the existing agency debt.
Edward Streit, a Senior Sales Associate of ASC, originated the loan.
