Atlas Real Estate Partners is excited to announce the successful refinance of The Residences at Lakeview in Memphis, Tennessee. The Property’s new appraised value of $71.3M represents a 134% increase over our purchase price of $31.2M.
Atlas, in partnership with West End Capital, acquired the 827-unit apartment community in February of 2021 and executed this refinance ahead of initial projections. We were able to lock in 10 years of fixed-rate debt with 7 years of interest-only payments and there is substantial value left to create at Lakeview. We plan to untap this additional value through our renovation programs and our active asset management approach. This refinance has provided a liquidity event for investors, allowing us to return a significant portion of initially invested capital in under 1.5 years! Read more here - https://rebusinessonline.com/berkadia-provides-45m-agency-refinancing-for-apartment-community-in-memphis/
Atlas Secures $45M Agency Refinancing for The Residences at Lakeview
August 20, 2022
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