We have Officially CLOSED on SouthBank Apartments in Tempe, AZ in 60 days without the use of our extensions.
SouthBank was acquired for $18.075MM with a planned CapEx budget of $1.76MM to modernize and renovate the property.
Prime Capital Investments raised a total of $6.20MM in equity.
We're looking for our next deal! Please send any multifamily value-add opportunities to firstname.lastname@example.org
We are deeply thankful to our investors who have entrusted us with their hard earned funds.
Angelessa Z. Ritchie were incredible brokers to work with on our first acquisition in the Phoenix metro. Their detailed knowledge on the submarket, responsiveness at all hours, and charm allowed both parties to have an amicable and smooth transaction.
We're thankful to Michael Kleinman, CPA & Daniel J. Blumenthal, MBA who sourced the debt. We couldn't have asked for a better lender than Greg Heller & Alec Fink at Harbor Group International. HGI has deep familiarity with Tempe and gave us confidence they would perform. Neal Bookspan, our counsel, who kept the lender on their toes.
Special thanks to Joy Eaton & Suri Afkhami at Commonwealth Land Title/Escrow who had an almost unwieldy collection of wires and docs to contend with. Colton Rohr, Sarah White, & Collin Chlebak who moved mountains to have all required insurance policies in place. Dennis Mor & Leo McDonnell at AST Defeasance who ensured the trader executed the interest rate cap in the nick of time. Superior Survey who made numerous change requests from multiple parties Vitaliy Gnezdilov & Chris Arias who handled all marketing (and made these eye-catching graphics). Mike Myers & team who braved 110 degree summer heat to create a compelling video narrative.
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