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Austin Apartment Complex in Foreclosure
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37 Views • Jun 18, 2024 • Click to toggle off description
Http://weclosenotes.com/

Austin Apartment in default! Loan default on 636 #apartments.

$103mm loan ($162K per unit).

Lender pushing for court to appoint receiver

Lender claims sponsor is unwilling or unable to pay property manager and other operating expenses.

Missed April and May loan payments

Rate cap expired; sponsor has not obtained a new rate cap

$350K of liens

Asset: Tides on Copper Creek

Source: The Real Deal
#austinapartments #realestate #realestateinvesting #multifamily #multifamilyinvesting #apartmentinvestor #noteinvesting #commercialrealestate #noteinvesting #austinrealestate #texasrealestate
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Uploaded At Jun 18, 2024 ^^


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RYD date created : 2024-06-19T13:35:57.840375Z
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