Loop secured a $27.8 million loan for refinancing of a 382-unit community in Southfield, MI
Loop investment announces the refinancing of Solaire Adult Active Community. It was acquired in 2015 for under market value. Hands-on management, along with rent increases and water reimbursements, added 20%+ to the Net Operating Income (NOI). The Department of Housing and Urban Development (HUD) loan was finalized during December 2017 at an appraised value of $34,750,000, representing a multiple of over four on the equity in less than three years.