SM Capital, Inc. And RNWC Fund II Provide $20.88M Bridge Loan For Multifamily Asset In Houston

The property asset involved in this transaction is a multifamily asset located at 10501 Holly Springs Drive in Houston. The property comprises 473 units and has a total square footage of 542,500. The loan amount for this property is set at $20,875,000, provided as a bridge loan with floating terms at SOFR + 2.50%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,875,000
• Lender: SM Capital, Inc. & RNWC Fund II
• Landlord: Sheng-Raamco Management, Inc.
• Lender's Representative: Max Ozkural - SM Capital, Inc.

Key individuals involved in this deal include Max Ozkural, who represents the lender SM Capital, Inc. Additionally, the loan is facilitated by RNWC Fund II, working alongside Sheng-Raamco Management, Inc. as the landlord for this multifamily asset.