Aline Capital is pleased to announce the closing of two new Build for Rent Communities in the Greenville market. Aline Capital sourced two acquisition loans for the purchase of 36 units across the Upstate. Our client acquired these new construction units at CofO and Aline was able to structure the debt at 60% LTV with 12 months of interest only and a 30-year am to allow for some cushion during lease up and maximum cash flow. Our rate was fixed at 7.0% and there is no prepay penalty, allowing for flexibility as rates come down to refi into a loan with a better rate. Aline is really pleased to have structured the deals this way and our client was very happy. This was best in market execution after a competitive bidding process. Congrats on a great project after 1.5 years of effort to get it done.
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