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.
About GenX Capital Partners
GenX Capital Partners is a boutique commercial real estate investment banking firm based in Miami, Florida. The firm develops and acquires commercial real estate assets for their own account while also supplying bridge/mezz debt and equity into viable projects with seasoned sponsors on a national basis. GenX Capital’s core focus is multifamily and hospitality financing (debt and equity), both for acquisition and development in the $5MM to $100+MM range. Due to their extensive access to debt and equity from their own sources and that of strategic partner funds, GenX Capital has the ability to make quick decisions and fund deals under the tightest of time tables. For more information go to www.GenXCP.com