Partnering with a prominent Portland landlord and developer, Maine Street Capital created a strong financing solution for this large multifamily transaction. At the time of acquisition, Bayside village was a 400+ bed student housing property. Financing the project involved securing funding for 80% of both the $20.85 million acquisition of the property and $11 million in renovations to convert the property into a 196-unit apartment complex. MSC negotiated competitive, long-term financing with a local lender at low rates and with favorable terms for the borrower.
Press: Maine Biz