Newtek Provides $5,100,000 Refinance Loan For Multifamily Asset In Pampa Texas

A multifamily property located at 1601 West Somerville Street in Pampa, Texas secured competitive permanent financing through a refinance loan. The transaction involved a loan amount of $5,100,000 for the asset, which has been identified as stabilized, enabling the borrower to seek further opportunities for portfolio expansion despite its rural location.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $5,100,000
• Lender: Newtek
• Borrower's Loan Type: Refinance
• Brokers: Brian Flax, Dovi Levy & Jason Bogopulsky - Meridian Capital Group

Brian Flax, Dovi Levy, and Jason Bogopulsky from Meridian Capital Group played a crucial role in facilitating the financing arrangement, which included delivering meaningful cash out to enhance the borrower’s financial strategy for continued growth across the country.