Westside Capital Group Secures $21.825M Loan From Crestline Investors For Skylar Ridge In Hoover AL

The asset involved in this transaction is a renovated apartment complex known as Skylar Ridge, located at 7050 Rime Village Drive, Hoover, AL. It comprises a total of 140 units and has recently increased its occupancy from 60% to 97%. The transaction is backed by a loan amount of $21,825,000, facilitated by Crestline Investors, highlighting the property's enhanced value due to recent improvements and future zoning potential.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $21,825,000
• Asset Address: 7050 Rime Village Drive
• Market: Hoover, AL
• Units: 140
• Lender: Crestline Investors
• Landlord: Westside Capital Group
• Broker Representatives: Jesse Wright & Joshua Odessky - JLL

The deal was facilitated by JLL Capital Markets, which secured the loan for the landlord, Westside Capital Group. The successful management of occupancy improvements and strategic planning for future growth have been integral to enhancing the property’s appeal and market position.