6/10 Capital Advisors Finances Large Dallas Multi-Family Apartment Property
John W. Herbert, Jr., Managing Director of 6/10 Capital Advisors, LLC, announces the closing of a Private Placement $2,850,000 Loan Participation in a $5,700,000 Bridge Loan secured by Mountain Valley Apartments, a 312-unit property located in Dallas, Texas.
- Orlando, FL (1888PressRelease) April 05, 2011 - Herbert secured the Loan Participation Commitment from a private Real Estate Investment Fund.
Winter Haven, Florida-based 6/10 Capital Advisors, a wholly-owned subsidiary of the 6/10 Corporation, assists owners of multi-family apartment properties seeking new financing and restructuring of existing debt. The company maintains relationships with numerous banks, insurance companies, and other non-traditional institutional and private capital sources that are seeking real estate mortgage loan investments. These sources have agreed to assist 6/10 Capital Advisors to provide capital to property owners, easing the credit crunch plaguing the present marketplace.
"Our 'sweet spot' in terms of transaction size is $1 - $15 million, although we have the capacity to handle much larger transactions," states Herbert. "With many apartment property owners facing difficulty securing new financing and restructuring existing debt, our abilities help navigate the complexities of securing funding (up to 80% LTV) for existing and to-be-developed apartment complexes in this challenging equity market."
For further information on the real estate financing services provided by 6/10 Capital Advisors, visit http://www.610capitaladvisors.com.
About The 6/10 Corporation
The 6/10 Corporation is a Winter Haven, Florida based investment company. Its primary holdings are Florida commercial real estate properties and private equity positions in Florida based operating companies. The 6/10 Corporation's commercial real estate portfolio includes office, medical, data center, industrial, specialty retail and undeveloped land. Operating companies included in the 6/10 Private Equity portfolio include software, commercial real estate services, colocation and data center, manufacturing and IT services. Formed in 1985, 6/10 has many years of experience in the acquisition, development, ownership and management of a broad range of investments. http://www.610corp.net.
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