Reap Capital Secures $16.5M Acquisition Loan For 164-Unit Multifamily In Grand Prairie

A $16.5 million Fannie Mae acquisition loan has been secured for The Chandler, a 164-unit multifamily property located at 201 West Tarrant Road in Grand Prairie, Texas. The property is situated between Dallas and Fort Worth. The loan, arranged by Colliers Mortgage, has a five-year term and a 35-year amortization schedule. The borrower in this transaction is Reap Capital, a Dallas-based private equity firm.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $16,500,000
• Units: 164

Key individuals and companies involved in this deal include David Lilley, who serves as the landlord representing Reap Capital. The brokers responsible for securing the loan are Robert Siddall, William Givens, Shawn Givens, and Ken Higgins from Colliers Mortgage.