BridgeCity Capital Provides $23 Million Bridge Loan For 301-Unit Multifamily Asset In Phoenix

The asset involved in this transaction is a multifamily property with a total of 301 units located in Phoenix, AZ. The transaction has secured a bridge loan for a total amount of $23,000,000, with a loan term of 18 months and options for extensions. The loan is structured with a loan-to-value ratio (LTV) of 65%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $23,000,000
• Market: Phoenix, AZ
• Units: 301
• Lender: BridgeCity Capital
• Loan Type: Bridge
• Loan Terms: 18 months + extension options
• LTV: 65%

Key individuals involved in the deal include Louis Lebovits, Allan Lebovits, Moishe Loketch, and Pinny Loketch. BridgeCity Capital, the lender for this transaction, is noted for actively financing mixed-use, residential, industrial, and construction projects across the Tri-State Area, South Florida, and other states.