The acquisition loan for Preslee Apartments, a 290-unit multifamily asset in Arlington, has been provided by a fund sponsored by CBRE Investment Management. The loan amount remains undisclosed, and the property features select units with private balconies/patios. Amenities at Preslee Apartments include a pool, fitness center, business center, clubhouse, and outdoor grilling and dining areas. Located at 2504 Ivy Brook Ct, Arlington, TX, 76006, the asset is set for renovation by the borrower, S2 Capital, based in Dallas.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: Undisclosed
• Address: 2504 Ivy Brook Ct, Arlington, TX, 76006
• Market: Arlington
• Borrower's Rep: Lauren Bresky (NorthMarq)
• Lender: CBRE Investment Management

Lauren Bresky of Northmarq Capital played a key role in arranging the floating-rate loan for Preslee Apartments, acting as the borrower's representative. The loan structure encompasses an initial three-year term with the potential to extend by an additional two years, enabling flexibility for the borrower, S2 Capital, to execute their renovation plans for the multifamily property.