Delray Beach, FL, July 5, 2022: QuickLiquidity, a direct lender for commercial real estate, has announced that it has closed a loan secured by a general partners sponsor promote in a commercial real estate syndication that owns a 280-unit apartment building.
In 2017, the borrower had formed a commercial real estate syndication to purchase a mismanaged apartment community. The syndication invested millions to renovate and improve the property. Today, the apartment community is fully stabilized with a 98% occupancy.
Despite the borrower having an estimated $3.5 million of equity in the syndication, it is completely illiquid. When the borrower wanted to free up capital to keep growing their commercial real estate portfolio, they reached out to QuickLiquidity.
QuickLiquidity offered the borrower a solution by letting them pledge their sponsor promote in the commercial real estate syndication in exchange for a loan. This allowed the borrower to receive the capital they needed while maintaining complete ownership and control of their stake.
This loan was closed without a new appraisal and without any credit score requirements.
"We’ve created an innovative loan program to help investors unlock their trapped equity. Whether they are a passive investor or the sponsor who put the deal together, our financing can provide them with immediate liquidity.” says A. Yoni Miller, Principal of QuickLiquidity.
Have questions regarding loans secured by LLC interests, LP interests, TIC interests, or DST interest? Give us a call right now at 561-221-0881.
