Institutional Equity: $9,700,000
Knightsbridge recently arranged two separate components of financing to provide up to 99% of the total capitalization to fund the acquisition and rehabilitation of a 856-unit apartment project in Phoenix, Arizona.
Mezzanine Debt: $4,500,000
Knightsbridge overcame the following challenges:
- Market fundamentals that had just begun to strengthen in the Phoenix area.
- Coordinating three separate institutional capital providers within the time constraints of a tight closing deadline.
- First institutional joint venture for the sponsoring entity.