CATEGORIES | Debt | Equity | Financial Advisory | Investments | Multifamily | Student Housing
FIDES Capital Partners, LLC (“FIDES”) secured $240 million of equity to acquire alongside its client, the first mortgage loans secured by a 75-building portfolio of 2,149 rent-controlled apartments in some of the most iconic neighborhoods in San Francisco, CA. “This is a tremendous opportunity to utilize our client’s proprietary knowledge of the properties, market, and operations to enhance and create value,” said Greg Longoria of FIDES. “With a note balance of close to $800 million, I believe this is the largest multifamily default in the country, and we’re excited to be in the middle of this high-profile transaction. No multifamily operator is better qualified than our client to acquire these notes and drive the going-forward value of this fabulous portfolio.”