Red Oak Capital Closes $1.55M Loan For 1400 Cherry Holdings' Treehouse Apartments Acquisition

The asset involved in this transaction is a multifamily property located at 1400 Cherry Drive in Arlington, TX, covering an area of 0.82 acres. The Treehouse Apartments, which are 93.5% occupied, received a bridge loan for $1,550,000 to facilitate their acquisition and lease-up.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,550,000
• Lender: Nick Jans, Thomas Gorski & James Myatt - Red Oak Capital Holdings
• Landlord: 1400 Cherry Holdings, LLC
• Broker: Andrew Russell - Lument
• Loan Terms: non-recourse, interest-only

The deal involved key players in the financing of the property, with Red Oak Capital closing the bridge loan. This financial support will help 1400 Cherry Holdings stabilize the Treehouse Apartments before transitioning to Freddie Mac financing.