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Avondale Station, AZ
Single Family Townhome Build for Rent Community
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| Senior Construction Debt (3 yr. term fixed rate 7.43%) | $20,047,500.00 |
| Preferred Equity (2 Year term, 12%, half current / half Accrual) | $5,938,000.00 |
| Common Equity | $13,800,000.00 |
Challenges
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- Originated new construction facility with an AZ based commercial bank
- Raised ~$6MM in Preferred Equity to round out the capital stack and bridge the gap between senior debt and common equity
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