MFP Capital Secures $20 Million Acquisition Loan For 156-Unit Multifamily In Mobile AL

The transaction involves a multifamily property with 156 units located in Mobile, AL. The loan amount secured for this acquisition is $20,000,000 with a structure reflecting a Debt Fund Execution. The loan terms consist of a 3+1+1 term, full term interest-only payments, and a +270 basis points equivalent to the benchmark rate.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,000,000
• Lender: BrightSpire Capital
• Landlord: MFP Capital
• Loan Type: Acquisition
• Loan Terms: Debt Fund Execution | 3+1+1 Term | Full Term IO | +270
• Brokers: Ricky Warner, Henry Stimler & William Weber - Newmark

The key figures associated with this transaction include brokers Ricky Warner, Henry Stimler, and William Weber, all representing the deal through Newmark. Their involvement indicates a coordinated effort in securing financing for the multifamily asset under the management of MFP Capital and provided by BrightSpire Capital.