A private investor has received $58 million in financing to acquire and reposition a workforce housing portfolio in the Norcross submarket of the Atlanta metro area. George Smith Partners Inc. secured the financing for the buyer of the two vintage buildings. The capital package consists of $45 million in non-recourse acquisition debt and $13 million in joint venture equity. The loan is interest-only during the initial four years of the term, followed by a 30-year amortization. Click here to read the full story.
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