Trillium Capital Resources Arranges $14M in Refinancing for Two Apartment Communities in Phenix City, Alabama
PHENIX CITY, ALA. — Trillium Capital Resources has arranged $14 million in refinancing for The Gardens Apartments and Post Ridge Apartments, which are both multifamily communities located in Phenix City. The Gardens Apartments has 190 units and Post Ridge Apartments has 152 units. Located at 501 16th Ave. N., Post Ridge includes one-, two- and three-bedroom units.
HUD’s A7 refinance program allowed Trillium to procure a fixed interest rate of 2.75 percent for The Gardens. The 25-year loan reduces the undisclosed borrower’s mortgage insurance premium (MIP) from 0.60 percent to 0.25 percent.