Mezzanine loan deal for Preferred Apartment

Preferred Apartment Communities (NYSEMKT:APTS) teams with Westport Capital Partners on a $17.2M mezzanine loan tied to a 304-unit apartment development in Northern Virginia. In connection with the loan, Preferred has received an option to buy the property upon completion and stabilization.

Preferred expects to partner with Westport on several other deals totaling about $275M in total development costs.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs