Ready Capital Provides $66.7M Acquisition And Renovation Loan For Multifamily Property On Town Center Dr In Granger, South Bend, IND

5504 Town Center Dr, located in Granger, South Bend, IND, has recently completed a closed transaction involving a multifamily property with 400 units. The loan for this acquisition, renovation, and stabilization project was secured through Ready Capital, with David A. Cohen representing the brokerage.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $66,700,000
• Loan Type: Acquisition, Renovation & Stabilization
• Loan Terms: Nonrecourse loan with interest-only payments, a floating rate, and a four-year term

David A. Cohen, from Ready Capital, played a crucial role in facilitating this transaction, ensuring a successful acquisition, renovation, and stabilization process for the multifamily property situated at 5504 Town Center Dr in Granger, South Bend, IND. His expertise and dedication were instrumental in securing the $66,700,000 loan with favorable terms.