River Run Apartment Complex
This project included a $17,600,000.00 Note Purchase secured by the River Run Apartment Complex, a 216 unit Luxury Apartment Complex on 11.29 acres. There was a non-performing first position lien, the borrower was in foreclosure, the corporate guarantor was bankrupt and construction was 75% complete.
Lauren Ridge Apartments
The Lauren Ridge Complex is a 216 unit luxury apartment complex in Columbia, SC sitting on 23.9 acres. Vision Ventures completed the acquisition of this non-performing first position loan in the amount of 18,250,000.00, the borrower was in foreclosure, the corporate guarantor was bankrupt and construction was only 85% complete.