Raynor Capital Management facilitated a bridge loan for the borrower, a syndicate of international investors for the purchase and conversion of a multifamily property into condominiums. The property was built in the mid 1980s and located in close proximity to University of Georgia. For the last 40 years, it has operated as rental housing. The buyers purchased the property directly from the original developer, identifying a compelling value-add opportunity to convert the units into for-sale condominiums on the open market — a strategy projected to 2x the asset's value upon sellout. The financing presented considerable challenges: foreign sponsorship with no domestic track record is among the most difficult borrower profiles to place with institutional lenders, and the condo conversion business plan added an additional layer of execution risk in a secondary market with limited comparable condo sales activity. Despite these headwinds, Raynor successfully structured and placed a 24-month bridge loan via one of the world’s largest fixed income focused asset managers.