Justin Webb Secures $36M Refinance Loan For Multifamily Asset Sherman Park Village From Orix USA

The property asset involved in the transaction is located at 1350 West Taylor Street in Sherman, featuring a multifamily layout with a total of 273 units. The transaction includes a loan amount of $36,000,000, specifically categorized as a refinance.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $36,000,000
• Address: 1350 West Taylor Street
• Market: Sherman
• Units: 273
• Lender: Steve Klufas - Orix USA
• Landlord: Justin Webb
• Landlord's Debt Broker: Sam Tarter - JLL
• Loan Type: Refinance

JLL arranged construction takeout financing for Sherman Park Village, representing Justin Webb and Altura Homes. The bridge capital necessary to complete the lease-up of the asset was provided by Steve Klufas from Orix USA.