Lument Provides $11.3M Loan For Easton Parc Apartments In Sherman, Texas

The Easton Parc Apartments in Sherman, Texas has secured $11.3 million in financing through a 10-year loan provided by James Flynn of Lument. The loan amount will be used for a refinancing transaction.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $11,300,000
• Loan Type: Refinance
• Loan Terms: The loan will have a 10-year duration, with interest-only payments for the first five years. After that period, it will switch to a 30-year amortization schedule.

The Easton Parc Apartments is a multifamily property consisting of 232 units. The property was originally built in 1986 and underwent renovation in 2013. It offers various amenities to its residents.

James Flynn, a representative from Lument, acted as the lender for this transaction, providing the necessary financing for the refinancing deal.