The owner of Templecliff Apartments in Southeast Dallas has secured a $2.3 million bridge loan from Red Oak Capital Holdings. The loan will be used for a capital improvement program aimed at enhancing the property's value and market appeal. The multifamily property spans over 21,630 square feet and sits on a 1.2-acre lot.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,300,000
• Address: 1234 Templecliff Drive, Dallas
• Market: Dallas
• Loan Type: Bridge Loan
• Loan Terms: note rate of 10.00 percent and a 12-month term with two six-month renewal options

Red Oak Capital Holdings, represented by Gary Bechtel and Nick Jans, acted as the lender in this transaction. Their expertise and financial support have allowed the borrower to pursue their capital improvement plans. The bridge loan presents an opportunity for the owner to enhance the property's value and attract a wider range of potential tenants.