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.
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