Lument Provides Acquisition Loan For Multifamily Property In Ridgeland, Mississippi

The multifamily property located at 6811 Old Canton Rd in Ridgeland, Mississippi has been involved in a recent transaction. The property spans approximately 374,212 square feet and consists of 308 units.

Summary of transaction details

• Property Type: Multifamily
• Address: 6811 Old Canton Rd, Ridgeland, Mississippi
• Market: Ridgeland, Mississippi
• Square Footage: 374,212
• Number of Units: 308

The loan for this acquisition was provided by lument''>Lument. The loan amount was $37,407,280. The loan type is an acquisition loan with terms of 3+1=1 rate in the low 3s and a loan-to-cost ratio of 75%.

Hannah Howard, from Meridian Capital Group, represented the buyer as the broker in this transaction.