Very quick #retwit thread on an 8-unit project that I was a part of:

2022 was quite a crazy year for us. We closed on the property late 2021 and had most of our renovations done by Feb 22'. Per our bridge loan, we couldn't roll into permanent until ~April. Time was ticking. We, fortunately, had a great capital partner in hand and rolled our bridge into a permanent 30-year at blended 5.5% interest. We did our underwriting for 4.75% - so not terrible but we missed our target.

However, our initial investment into family-friendly amenities worked.