SPI Advisory Secures $49M Loan For Ascent North Multifamily In Austin

The Ascent North, a 460-unit apartment complex located at 12001 Dessau Road in North Austin, Texas, recently underwent renovations and offers various amenities. SPI Advisory secured a $49 million Fannie Mae financing for the property, with Colliers Mortgage providing a five-year loan for the multifamily asset.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $49,000,000
• Units: 460
• Lender: Colliers Mortgage
• Landlord: Michael Becker - SPI Advisory
• Loan Type: Refinance
• Loan Terms: Five-year

The loan for Ascent North in Austin was secured through $49 million in Fannie Mae financing with support from Colliers Mortgage. The property, after recent renovations, stands as a significant multifamily asset in North Austin. Michael Becker from SPI Advisory represented the landlord in the deal.