Distress Atlanta Apartment Note Sale

Category: Notes

The bank lent $14MM to this new construction and now is bank-owned.

They need $6.5MM plus our 3% fee. Do not offer less – they will reject.

They are currently leasing on a month-month basis and about 45% occupied or so. But rents are below market. This was built as assisted living and that would be the best model here for higher income possibility but could still be run just as a Class A apt facility

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SMG Commercial Notes

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