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Firm Attorneys Closed a $22,150,000 Acquisition and Financing of a 240 Unit Apartment Complex in Simpsonville, South Carolina

Firm Attorneys Closed a $22,150,000 Acquisition and Financing of a 240 Unit Apartment Complex in Simpsonville, South Carolina

Matt Lamstein and Jessica Moore of the Firm’s Real Estate Practice Group, together with Alex Gayer of the Firm’s Corporate and Business Practice Group, closed the acquisition and financing of a 108 unit apartment complex in Simpsonville, South Carolina at a purchase price of $22,150,000. Mr. Lamstein and Ms. Moore represented the buyer in both its acquisition and an approximately $16,500,000 Fannie Mae financing. The transaction included a like-kind exchange, a tenancy-in-common structure as well as a complicated master lease arrangement to cover the cost of extensive renovation at the property. Mr. Gayer assisted with the corporate structuring of the transaction including the preparation of private placement memoranda, formation of the owner and management entities, drafting and negotiation of the operating agreements, and the preparation and completion of all required securities filings.