Overall Creek Apartments (Mezz Loan)
![OVERALL-CREEK-EXTERIOR-1 - home](https://cdn.jpmorganfunds.com/content/dam/jpm-am-aem/americas/us/en/images/reits-images/OVERALL-CREEK-EXTERIOR-1%20-%20home.png)
Investment Thesis:
Loan provides JPMREIT with high current income
Modest loan-to-cost ratio mitigates risk
Borrower contributed new equity of $39 million in cash
Located in Murfreesboro, TN, a fast-growing sub-market of Nashville
Built in 2020
Property Type
Multi-family- Mezzanine debt
Market
Nashville
Investment Date
September 2022
Size
384 Units
Mezzanine Loan
$16.8M (JPMREIT) / $10.0M (CMIF)
Total Loan
$76.8M (70% LTC)
Project Costs
$109.7M
Loan Term
SOFR+522bps; two-year term, plus three one-year extension options
![jpmreit-portfolio-overall-creek-2](https://cdn.jpmorganfunds.com/content/dam/jpm-am-aem/americas/us/en/images/reits-images/jpmreit-portfolio-overall-creek-2.png)
![OVERALL-CREEK-EXTERIOR-2-updated](https://cdn.jpmorganfunds.com/content/dam/jpm-am-aem/americas/us/en/images/reits-images/OVERALL-CREEK-EXTERIOR-2-updated.png)
![jpmreit-portfolio-overall-creek-4](https://cdn.jpmorganfunds.com/content/dam/jpm-am-aem/americas/us/en/images/reits-images/jpmreit-portfolio-overall-creek-4.png)
Source: JPMAM. Assumptions are based upon available data at time of closing. All projections are subject to change and non-binding. Any forecasts, figures, opinions, views and investment techniques, unless otherwise stated, are those of the investment manager/adviser at the time of this document. They are considered to be accurate at the time of writing, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted. They may be subject to change. Past performance is not a reliable indicator of current and future results. All statistics are intentionally as of the closing date unless otherwise noted and in local currency.