Over $75 Million in Acquisitions for Multifamily Developer

During 2020, we represented a multifamily developer in the acquisition/re-development of four properties in Shelby County, Memphis, Tennessee, with a total of 573 units for an aggregate purchase price exceeding $75 million and aggregate financing exceeding $55 million.

More details about one of these transactions, the Apartments at Highland Row, can be found here.

You Also May Be Interested In:

  • Representation of NN, Inc. (NASDAQ: NNBR) in a new financing with J.P. Morgan, funds managed by Oaktree Capital Management, L.P., and investment funds managed by Morgan Stanley Tactical Value providing a $50 million asset-based credit line (ABL), a 5.5-year $150 million term loan, and a $65 million preferred stock issuance, respectively. Proceeds from the transaction will be used to repay the current principal balance of $70 million on its term loans due in 2022, to redeem its current $100 million outstanding preferred stock, prior to the increase in redemption premium at March 31, 2021, and pay off its fixed interest rate swap of $14 million. The transaction enables the company to strengthen its balance sheet by extending its capital structure’s maturity at an attractive blended cost of capital, allowing the company financial flexibility to continue its current business transformation efforts.

    We represented NN, Inc. (NASDAQ: NNBR) in a new financing with J.P. Morgan, funds managed by Oaktree Capital Management, L.P., and...
    Client Type: Public Company
  • Represented Maslow Development Inc. in connection with the acquisition and future development of 15 acres of land in Memphis, Tennessee

    We represented Maslow Development Inc. in connection with the acquisition and future development of 15 acres of land in Memphis,...
    Client Type: Private Company
  • Throughout 2019 and 2020, represented a self-storage developer in connection with the sale of its interest in 13 self-storage facilities in seven states in a series of transactions with a total transaction value of over $260 million

    Throughout 2019 and 2020, we represented a self-storage developer in connection with the sale of its interest in 13 self-storage...
    Client Type: Private Company