2nd TD Loan | 16 Unit Apartment Complex | Phoenix, AZ

2nd TD Loan | 16 Unit Apartment Complex | Phoenix, AZ

This 16 unit apartment complex in Phoenix, AZ was partially renovated and the borrower needed additional funds to complete their renovation. Not all of the units were completed so that left those units vacant. Unable to get a bank loan closed with construction and vacancies, RTI funded a 2nd TD behind their conventional 1st loan enabling the sponsor to complete their project and stabilize the complex.