Miller Capital Properties Receives $8.65M Loan From Red Oak Capital For East Point Multifamily Acquisition

The asset involved in the transaction is an 86-unit multifamily complex located at 4060 Janice Drive in East Point, GA. The acquisition was supported by a bridge loan amounting to $8,650,000, facilitating both the purchase and renovation of the Garden Courts Apartments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,650,000
• Loan Type: Acquisition
• Lender: Gary Bechtel - Red Oak Capital Holdings
• Landlord: Miller Capital Properties
• Market: East Point, GA
• Units: 86

This transaction was facilitated by Gary Bechtel representing Red Oak Capital Holdings as the lender, supporting Miller Capital Properties in their efforts to enhance the Garden Courts Apartments through the acquisition financing. The involvement of these parties underscores their roles in advancing the multifamily housing sector in the designated market area.