Heather Ridge Apartments
$7,500,000 non-recourse cash-out refinancing
73-unit 1990’s- vintage apartment building
Highland arranged a $7,500,000 non-recourse cash-out refinancing for Heather Ridge Apartments, a 73-unit 1990’s- vintage apartment building located in the Sacramento submarket of Orangevale between Interstate 80 and Highway 50. Highland identified a lender that provided significant cash-out up to 70% LTV, at a very low 10-year fixed rate. Back-end pre-payment flexibility was also included in this permanent loan.