Aline Capital is pleased to announce the closing of a construction takeout loan for a 22-unit build-for-rent community located in Greer, SC. Our client initially funded the project with cash and sought permanent financing to replenish capital to pursue new investment opportunities. Leveraging our deep knowledge of the Upstate market, Aline sourced a local lending partner that understood the client’s business plan and recognized the strong upside potential of both the asset and the surrounding market. The loan features a 5-year term at a fixed rate of 6.50%, no prepayment penalty, and an initial 3-month interest-only period to provide flexibility during the final stages of lease-up. We are proud to have played a role in our client’s business plan and are extremely excited for what the future brings at this asset. Congrats to everyone that helped make this a success!
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