Aline Capital is pleased to announce the closing of a cash-out refinance of an 80-unit apartment complex located in Marietta, GA. Aline financed the acquisition of this complex in 2020. Our client was able to successfully improve the property and its NOI through a robust capital improvement plan. As a result of the increased NOI, we were able to time this refinance with the August / September drop in Treasuries, allowing for a $2MM cash out. This non-recourse loan was locked at a 5.12% interest rate, two years of interest only and soft stepdown prepay. Some of the proceeds will go back into the property to continue the improvement before this hits the market. Congrats to our client on a strong deal. We’re excited to be apart of their business plan. As they say, the money is made on the buy!
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