On September 21st, the Federal Reserve (Fed) raised the Federal Funds Rate by 75 basis points. The fifth increase for the year pushed the target rate from 2.25% to 3.00% – the highest rate since February 2008. The hike follows the release of August’s inflation numbers – at 8.3%, inflation has remained above 8% for…Details
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THE PROPERTY The Keystone Apartments are a 202-unit garden-style multifamily complex in Fayetteville, NC. Built in 1974, the property comprises 24 buildings on a secluded 19-acre lot conveniently located adjacent to the Skibo Road Corridor. Less than 6 miles from Fort Bragg, an Amazon fulfillment center, and the Cape Fear Valley Hospital, the property…Details
THE PROPERTY The Bull Run Apartments are a 13-unit garden-style complex in Fayetteville, NC. The 2.79-acre four-building community was built in two phases, with the first two buildings completed in 1978 and the last two in 1989. Nestled in a quiet residential neighborhood, the property is nine miles from Fort Bragg and minutes from…Details
THE PROPERTY Wyndfall Apartments are a 56-unit garden-style complex in Hope Mills, NC. The 5.15-acre seven-building community was completed in 1998 and is nestled in a quiet residential neighborhood. The property offers all 2-bedroom units, each with approximately 1,280 square feet of living space. Located within the Fayetteville MSA, Wyndfall Apartments are 15 miles…Details
THE PROPERTY Williamsburg Place Apartments is a 280-unit multifamily property in Jacksonville, NC, minutes from Camp Lejeune and the New River Air Station. Built in 2011, Williamsburg Place is a fully gated community with 12 apartment buildings, a clubhouse, and multiple garages onsite. The property offers 1-, 2-, and 3-bedroom units with upgraded interiors…Details
Referred by an existing client, Sweetwater Capital set out to place permanent financing for this 160 unit multifamily property in late 2019. Looking to achieve $12.2MM loan amount, we had a few hurdles to jump through to close the deal. First, we needed to raise the occupancy and revenue. We introduced the borrower to a…Details
The greater Cincinnati area is among the strongest economies in the region based partly on its population growth. According to the Federal Reserve Bank of Cleveland, jobs grew 2.2 percent from last year, a faster pace than most of the country. This drops the unemployment rate to a 17-year low. Trade, transportation, utilities, hospitality &…Details
Refinance provides large cash-out to borrower for new developmentDetails
$13.5 million dollars. 4.33% interest rate. 3 years interest only.Details
2019 begins with the placement of a $20.5M construction loan for a new multifamily property in Burlington, NCDetails
We hit a new milestone this year and we can’t wait to share the news! The closing of our 213th loan pushes us over the edge, allowing us to surpass $2 billion in total loan volume closed! “We are positioning ourselves to expand into new markets, but also further into the South, Midwest and Mid-Atlantic,”…Details
We are continuing to grow with the addition of a new regional office and VP of Sales Production. Welcome to the team Stephen!Details
Sweetwater Capital is continuing to strengthen its first quarter with the loan closing of Clemons Lofts, a six-story, mixed-use building in downtown Chattanooga, Tennessee. “The borrower was shaking up the status quo by taking a stabilized multifamily property and converting it to a short-term rental property,” said Scott Yerkes, Sweetwater Capital vice president. “Without existing…Details
Sweetwater Capital achieved a significant milestone this week with the loan closing of Creekside at Sixth Apartments in Lillington, North Carolina. Creekside at Sixth marks the 200th loan for the commercial mortgage brokerage company for nearly $1.9 billion in loan volume. With ten accomplished years to celebrate, Sweetwater Capital is entering a new phase of…Details
Read through Jackson Howard’s responses to what 2018 holds for commercial real estate investors and lending strategies with the new year. 1. What is the biggest challenge you anticipate in 2018 as a direct lender or financial intermediary in commercial real estate? Where do you see the biggest opportunity for your company in 2018? Toward…Details
There is a process to use the same initial investment to build apartment communities over and over again, utilizing a refinancing strategy used by Serial Multifamily Developers. My team works closely with developers of apartment communities to obtain construction loans with banks and permanent loans through Fannie Mae and CMBS “Conduit Lenders”. Our expertise is…Details
Regulators, including The Federal Reserve, have put pressure on commercial banks to reduce the amount of construction loan dollars available to commercial real estate developers. Yet the demand for new construction lending remains strong. Developers want to see their visions come to fruition, thus alternative solutions are essential in order to fill this void left…Details
Louisville, KY – Sweetwater Capital is excited to announce the recent cash-out refinance of a 362-unit multifamily community in Louisville, KY on September 23, 2016. The owners purchased the property in May 2014 for $5,500,000. At the time of purchase, the property was in rough shape, with approximately 90 units that were completely boarded up.…Details
Recently, Fannie Mae announced new programs to promote green building in the multifamily industry. The Fannie Mae Green Initiative can be used to increase loan proceeds and lower the interest rate on your loan. For years green building requirements have been far too costly to be practical, but the new requirements for green designations are…Details
Greenville, NC – Sweetwater Capital is pleased to announce the recent refinancing of The Boundary at West End, a “best in class” four and five-story, mixed used development that provides 550 beds of student housing to students attending East Carolina University along with 9,500 square feet of retail space on the first floor. This beautiful…Details