PIMCO Provides $65M Bridge Loan For 316-Unit Multifamily Property In Holly Springs

A multifamily property located at 1101 Club Exchange Dr in Holly Springs, NC has undergone a refinance loan transaction. The property consists of 316 units and the loan amount for this transaction was $65,000,000. The loan type is a floating-rate bridge loan with a 24-month term, and the borrower has the option to extend the loan for three additional one-year periods.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $65,000,000
• Market: Holly Springs, NC
• Units: 316
• Lender: PIMCO Commercial Real Estate Debt Fund II, LP
• Brokers: Charles Foschini, Chris Apone, Mitch Sinberg & Matt Robbins - Berkadia

Charles Foschini, Chris Apone, Mitch Sinberg, and Matt Robbins from Berkadia acted as the brokers in this transaction, representing the borrower. The lender for this refinance loan was PIMCO Commercial Real Estate Debt Fund II, LP. The loan terms include a 24-month term with the option to extend for three additional one-year periods.