GemStar Capital Group Secures $3.5 Million Loan From Red Oak Capital Holdings For Swan Lake Apartments

The property involved in this transaction is Swan Lake Apartments, located at 4632 Ruffin Street in Bossier City, LA. This multi-family asset comprises 82 units and is slated for renovation over the next year. The acquisition was financed through a bridge loan amounting to $3,500,000, which features an initial term of 18 months and a loan-to-stabilized-value ratio of 73.46 percent.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $3,500,000
• Lender: Stratos Athanassiades, Thomas Gorski & James Myatt - Red Oak Capital Holdings
• Landlord: GemStar Capital Group
• Loan Type: Acquisition
• Loan Terms: Initial 18-month term, loan-to-stabilized-value ratio of 73.46 percent
• Units: 82

The key individuals involved in this transaction include Stratos Athanassiades, Thomas Gorski, and James Myatt from Red Oak Capital Holdings, who provided the financing, and GemStar Capital Group, representing the landlord in this acquisition deal. The financing is aimed at facilitating the repositioning of the Swan Lake Apartments asset.