PRESS RELEASE UPDATED: MAY 10, 2017
Miami, Fl, May 10, 2017 (Newswire.com) GenX Capital Partners has announced the closing of $1.75MM in preferred equity for Crown Bay Group’s 209 unit, $9MM, multifamily acquisition in Atlanta, GA. GenX Capital’s Managing Partner, Mark McClure, stated that the equity closing took only 7 days to complete from start to finish.
“Pretty straightforward deal. Great cash flowing asset with upside potential, combined with a seasoned multifamily sponsor that is an expert in that market, our equity partners were able to get comfortable very quick which allowed us to commit the capital in such a short time period”, McClure stated.
“I don’t think I have ever seen an equity deal close this quick. From start to finish in under a week? Pretty incredible. We look forward to many more deals with GenX Capital and their equity partners for years to come,” stated Steve Firestone, Crown Bay Group, CEO.