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RIVER WEST
ATLANTA, GA
Fee managed for mezzanine investor after UCC foreclosure
SITUATION:
232 unit, garden style conversion built in the 1980's; sales stalled and senior loan in default.
THE PLAN:
Restart the sales effort by re-branding the asset, develop sales models that appear to target buyer and negotiate the senior loan.
RESULTS:
Senior loan extended and release prices modified to fund remaining costs. Sixty-two units sold ahead of projected price and timeline.
