Greystone Provides $23M Bridge Loan For Rise48 Equity's Acquisition Of Multifamily Property In Bedford, Texas

Rise Oak Creek, a 176-unit multifamily property located at 1950 Oak Creek Lane in Bedford, Texas, has been acquired by Rise48 Equity with the assistance of a $23 million bridge loan provided by Greystone. The property offers a range of one- and two-bedroom units, as well as resort-style amenities. Conveniently situated with easy access to Highway 183 between Dallas and Fort Worth, Rise Oak Creek provides a desirable location for residents.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $23,000,000
• Market: Bedford
• Units: 176
• Lender: Greystone - Lance Wright
• Landlord: Rise48 Equity - Zach Haptonstall
• Broker: Dustin Dulin - JLL
• Loan Type: Bridge
• Loan Terms: 3-year

The collaboration between Rise48 Equity, Greystone, and JLL's Dustin Dulin resulted in the successful acquisition of Rise Oak Creek. Lance Wright from Greystone navigated the loan process, providing Rise48 Equity with the necessary $23 million bridge loan. With this transaction, Rise Oak Creek has now become the newest addition to Rise48 Equity's portfolio of properties.