Atlanta Multifamily Portfolio

$3,980,000 bridge loan secured by a first mortgage on a portfolio of three Class-C multifamily properties totaling 146 units in suburban Cobb County in Atlanta, Georgia. Edgewood’s loan was used to refinance the existing loan coming due on the property and set up a $112,000 fund for property repairs. The properties were 100% occupied when Edgewood’s loan was originated and, with the exception of 2009 and 2010, have always maintained occupancy above 95%. The loan was paid back in full in August of 2014.