Ready Capital Provides $66.7M Acquisition And Renovation Loan For Multifamily Property On Town Center Dr In Granger, South Bend, IND
5504 Town Center Drive
MultiFamily
1,329,887 SF
1,329,887 SF
Summary
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.
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