Cape Sierra Capital Secures $14.9M Bridge Loan For Ypsilanti Multifamily Property

A multifamily property located at 2224 Golfside Dr in Ypsilanti, Ann Arbor, Michigan, has been involved in a recent transaction. The property consists of 154 units and is owned by Cape Sierra Capital, represented by David Kamara.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $14,938,000
• Loan Amount: $14,938,000
• Loan Type: Bridge Loan
• Loan Terms: Interest-only, 24-month term with one 12-month extension option
• Lender: Greystone - Reuben Dolny & Jason Yuen
• Landlord: Cape Sierra Capital - David Kamara

The loan for this transaction was provided by Greystone, represented by Reuben Dolny and Jason Yuen. The loan amount of $14,938,000 was secured through a bridge loan with interest-only terms and a 24-month term, with an option to extend for an additional 12 months. This financing arrangement allows Cape Sierra Capital to fulfill their investment strategy for the multifamily property located at 2224 Golfside Dr.