Houston Apartments

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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
Houston, TX
Value Add Financing
Multifamily
Nov' 2019