Fulton Realty Capital advised a private client on the acquisition of a multifamily community in Southeastern Tennessee. Fulton's commercial real estate team sourced the asset, arranged financing, and led all negotiations.
The 200,000 SF complex has 170 units and features a number of valued amenities including a swimming pool, fitness center, tennis courts, and a dog park. A stable, well maintained asset in a high-growth market, the property is a short drive from natural recreation areas and an urban core.
Fulton secured an interest-only Government Sponsored Enterprise (GSE) Mortgage to facilitate the transaction. Light, value-add renovations to unit interiors, common areas, and amenities are planned.
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