Lake Susan Apartments was built in 2001. An affiliate of The Excelsior Group (TEG) developed, syndicated, and obtained construction and permanent financing for the 162-unit property. TEG assumed Asset and Property Management responsibilities in June 2005.
In 2011, TEG took advantage of an opportunity to secure favorable long-term financing terms by refinancing with Freddie Mac debt. TEG led the refinance effort and positioned the ownership group for dependable, long-term cash flow.
TEG recently took advantage of favorable financing rates and secured a supplemental loan to complete unit rehabs and build a new fitness center. Unit rehabs will be completed over a three year term and the clubhouse will be completed by the end of 2015. Both of these improvements will add value and keep Lake Susan relevant in an increasingly competitive Southwest Metro submarket.