ALTA SURF

101 BREAKERS DRIVE, MYRTLE BEACH, SOUTH CAROLINA

The first mortgage on Alta Surf was acquired in April 2009. Alta Surf was built in 2007 and consists of a 216-unit Class “A” apartment complex located in Myrtle Beach, South Carolina. A deed-in-lieu of foreclosure was negotiated with the borrower immediately after closing. The property was refinanced with Freddie Mac approximately 5 months after obtaining the deed. The property was sold in December 2012.

Address
101 Breakers Drive Myrtle Beach, SC
Property Type
Multi-family
Year Built
2007
Square Footage
208,752 sqft.
Units
216
Acquisition Type
Senior Note
Acquisition Date
September 2009
Disposition Date
December 2012

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