Essex Capital Markets Secures $2.146M Loan For 23-Unit Multifamily Acquisition In Addison

The property asset involved in this transaction is a multifamily unit comprising 23 units, located at 439 West Stevens Drive in the Addison market. The loan amount secured for this acquisition is $2,146,000, with the loan being categorized as Agency through Freddie Mac, facilitating the structured financing for the acquisition process.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $2,146,000
• Address: 439 West Stevens Drive
• Market: Addison
• Units: 23
• Loan Type: Acquisition - Agency (Freddie Mac)
• Broker Representatives: Asher Motew, Quinn Keenan & Elliott Quigley - Essex Capital Markets

The deal was facilitated by Essex Capital Markets, highlighting the expertise of the brokerage team in navigating the agency process. The team structured a maximum leverage solution for the transaction, enabling the sponsor to make a competitive acquisition while maintaining returns for their investors.