Location: Lafayette, CO
Units: 254
YOC: 2010
Investment Type: Debt Reposition
Stratford Partners’ purchased Prana at a steep discount to market value due to a very unfavorable HUD loan with an 18 month lockout remaining. Once the HUD loan became pre-payable the partnership executed a cash-out refinance into a low interest rate, long term loan which allowed for the return of a significant portion of investor equity.
