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Pinnacle Closes Atlanta Multi-Family Bridge deal in 13 days

January 10th, 2017

Pinnacle Financial Group is pleased to announce that it recently arranged bridge financing for the acquisition and substantial redevelopment of two multi-family properties comprised of 194 units in Atlanta, Georgia.

Notwithstanding the short term closing requirement and lack of in-place cash flow, Pinnacle sourced and closed a 12 month interest only facility for $5.2 million (85% LTC) in 13 days.

Regarding the transaction, Pinnacle Senior Vice President of Originations, Chris Litzler noted, “The short term nature of this transaction required unmatched teamwork between Pinnacle and the Lender. The deal is an incredible example of the creative sources of capital that are offered by many of our national, long standing, lending relationships.”

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