Alliant Credit Union Provides $38.4M Acquisition Loan for Apartment Portfolio in Memphis
MEMPHIS, TENN. — Alliant Credit Union has provided acquisition financing for a six-property apartment portfolio in Memphis. The loan was structured with an initial funding of $31.7 million, with performance earn-out provisions up to $38.4 million. The borrower plans to renovate the communities, which include a total of 1,240 units. Community amenities across the portfolio include on-site parking, clubhouses, swimming pools, playgrounds and onsite laundry facilities. The name of the borrower and specific property names were not disclosed.