3650 REIT Provides $103.25M Loan For Southern Residential Portfolio Acquisition

The Southern Residential Portfolio, a multifamily property located in South Carolina, Louisiana, Tennessee, and Georgia, was recently involved in a loan transaction. The loan, valued at $103,250,000, was provided by 3650 REIT for the purpose of recapitalization. The portfolio consists of approximately 3,700,000 square feet of space.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $103,250,000
• Address: Southern Residential Portfolio
• Market: South Carolina, Louisiana, Tennessee, Georgia

Eddie Haber and Drew Anderman from Meridian Capital Group represented the landlord, which consists of DWREI, Onyx Partners, and Carlton Associates, in the loan deal. Notably, the new investment by 3650 REIT is subordinate to existing Fannie Mae senior mortgage loans, as mentioned in the broker's note.