Commercial Ventures, a division of GMAC Commercial Mortgage Corp., provided $145 million of this financing. "This new financing brings a much-needed capital infusion into the assets, which, coupled with aggressive management, will yield exemplary returns," Mark Sanders, CEO of Fifteen Group, says in a statement.
Over the last few months, Fifteen Group, a real estate acquisition organization, has transformed into a full-service organization. The company has focused on providing affordable rental housing in major growth markets across the country.
"In the last four months, we have built a property management company from scratch, taken over management of over 14,000 units, and refinanced over one-third of our portfolio," states Ian Sanders, president of Fifteen Group.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.