PROJECT INFO

Bank bridge loan for Class C, 780-unit multifamily in Houston, TX

Finance Amount: $29,000,000

DESCRIPTION

Recourse, $8M cash out; LIBOR+210bps floating, 65% LTV, 1/4% fee, no pre-pay, 3 years Interest Only then 3 years on 30-yr amort
Location: Houston, TX
Deal Type: Value Add Financing
Property Type: Multifamily
Year: Nov' 2019