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A10 Capital Funds 312-Unit Apartment Community in Norcross, Georgia

January 31, 2014

Boise, ID (PRWEB) January 31, 2014 A10 Capital , a full service nationwide lending business specializing in small to middle market commercial real estate loans announced that it has funded a $11.5 million bridge loan for the acquisition of a multifamily garden property located in Norcross, Georgia , a northeastern suburb of Atlanta . The commercial mortgage is secured by the class B property at approximately 70% leverage. Chuck Taylor , EVP of A10 Capital , who structured and closed the loan, said, “We’ve had the opportunity to finance PointOne Holdings (POH) previously on another multifamily turn-around asset in metro Atlanta . Seeing first hand their ability to successfully execute on their plan on our prior deal made working on this transaction very straightforward from our perspective. With this property, we feel that POH is getting a good solid asset at great pricing with a strong value-add story. For our part, having a local presence allowed us to get out to see the asset quickly, assess the opportunity and ultimately provide non-recourse senior financing with a future facility to tackle the extensive capital program that POH has planned, all within the extraordinarily tight auction closing timeline. For a valued repeat client, this kind of transaction demonstrates the strength and capabilities of our lending platform.” "We have successfully acquired two assets in the past 30 days for an amount close to $50 million and over $100 million dollars over the past 12 months. We continue to actively pursue other multi-family and commercial opportunities throughout the southeastern United States ," added David Garfinkle , managing member of PointOne Holdings . “This was our first transaction and it was flawlessly executed both by and our lender A10 Capital whose assistance was material in us being able to secure this property at auction.” Alisha Hill , SVP and Auction Specialist at A10 Capital also noted, “Our extensive experience in financing auction transactions is instrumental in guiding new investors through the time constraints of the auction platform. The marketplace is changing the way commercial real estate is being traded, and the synergy that exists between A10 and creates a competitive advantage for dynamic companies like PointOne Holdings .” The transaction was structured on a non-recourse basis and proceeds of the loan were used to fund the acquisition of the property as well as committed funds for a future Capital Expenditure facility. About A10 Capital Founded in 2007, A10 Capital specializes in small to middle market commercial mortgage loans on a nationwide basis. Our core product, a mini-perm loan, features an intermediate term of 3-5 years that is often used to finance properties not yet in a position to obtain longer-term, permanent financing. A10 Capital is a full service lending platform, including origination, underwriting, closing, and servicing. The firm has its primary headquarters located in Boise, Idaho , with secondary headquarters located in Dallas, Texas . In addition, A10 has regional production offices located in Atlanta , Cleveland , Newport Beach , New Jersey , Philadelphia , and San Francisco . Read the full story at

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Source: PR Web

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