Pelham Village Convertible Note Financing

Polaris Investments has recently underwritten the investment into a convertible note for this project in Pelham. The developer, a long-term relationship of Polaris Investments, used the proceeds to acquire this commercial property composed of 5 retail spaces currently all leased. The project consists in developing 4-storey, 28-unit residential condominium above the retail section. Polaris Investments was pleased to fill the financing gap while the asset is in its pre-development phase. The holding period for this investment is expected to be 18 to 24 months.

Date of Investment: December 2018.