BMC Capital Secures $24 Million Bridge Loan For Bridgewater Apartments In Tomball Texas

The asset involved in the transaction is Bridgewater Apartments, a multifamily property located at 1100 Graham Drive in Tomball, Texas. The property consists of 206 units and was built in 1978. The total loan amount secured for this asset is $24,000,000, with the financing structured as a bridge loan for a term of two years, featuring interest-only payments.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $24,000,000
• Loan Type: Bridge
• Units: 206
• Address: 1100 Graham Drive
• Market: Tomball
• Brokerage Firm: BMC Capital
• Brokers: Grant Garlock & Noah Laredo

BMC Capital facilitated the financing details of the transaction through an undisclosed life insurance company. The specifics regarding the borrower involved in the loan arrangement are also undisclosed, providing a focused glimpse into the transaction dynamics without additional context on the parties involved.