29th Street Finance proudly announces the successful completion of a $7 million preferred equity investment at Echelon Park Apartments, a 1997 vintage, 240-unit multifamily property in McDonough, Georgia, south of Atlanta.
“This transaction represents another closed deal in our preferred equity platform, further showcasing our ability to deliver tailored investment solutions for our partners. Achieving agency compliance in 2024 has positioned us to act swiftly and effectively in a competitive market. We’re proud to see this strategy gaining momentum and look forward to continuing to capitalize on opportunities in this space over the coming months,” said Matt Compton, Vice President at 29th Street.
Echelon Park Apartments are located at 740 McDonough Parkway in McDonough. Unit mix includes 1-3 bedroom and 1-2 bathroom apartments ranging from 860 to 1,400 square feet.
29th Street Finance specializes in preferred equity investments between $3 and $15 million, offering competitive rates and terms tailored to meet the unique needs of our clients in all major markets. Our lending program is designed to support borrowers seeking quick closings with a reliable partner, who as a large owner-operator itself, knows what works.
Headquartered in Chicago, 29th Street is a privately held investment management firm focused on multifamily real estate and Proptech. We lend to, acquire, develop, renovate, and manage multifamily communities nationwide, deploying our technology to enhance the resident experience and optimize property performance. Backed by more than 15 years of delivering above market returns across over $5.1 Billion in assets, our culture is driven by our Mission, Vision, and Values. The firm’s portfolio spans across multiple states and encompasses a diverse range of property types.
