The Presley - Highland Realty Capital Deal

The Presley

Cash-Out Recapitalization with Earn-Out
251-Unit Multifamily Property
Nashville, TN

Highland arranged a $46.5M total perm loan facility to recapitalize the recent acquisition of The Presley Apartments in Nashville, TN.  At acquisition, the Sponsor was required to assume the in-place floating rate agency loan.  Once the loan was open for pre-pay, the Sponsor sought to maximize cash-out and find the lowest fixed-rate loan prior to any additional FOMC rate hikes.  Highland identified a Life Insurance Company that provided a 10-year fixed rate priced at 4.0% while featuring a $4.5M earn-out as rents rise in the high-performing Nashville market.

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