Memphis, Tenn. – Century Capital closed on a $1.56 million loan for a 179-unit apartment complex that had an extensive waiting list and a short construction deadline.

The New Jersey-based hard-lending agency was able to offer a financing package with a quick turnaround for the developers, who specialize in apartment complexes in Memphis, which is one of the largest rental markets in the country. The apartment building had a waiting list of 17 families at the time of closing.