Granite Towers Equity Group Acquires 310-Unit Multifamily Property In Dallas For $23M

The Marcus & Millichap Capital Corporation (MMCC) facilitated a $23 million agency financing for Granite Towers Equity Group (GTEG) to acquire a 310-unit multifamily property located at 2650 West Northwest Highway, Dallas. The property is a multifamily asset with a total of 310 units.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $23,000,000
• Address: 2650 West Northwest Highway, Dallas
• Market: Dallas
• Asset Type: Multifamily
• Units: 310

The loan, facilitated by Ralph Rader from Marcus & Millichap Capital Corporation, is an acquisition loan with a fixed rate of 1.86% over the 10-year Treasury. The loan terms include five years of interest-only payments, followed by a 30-year amortization and a 10-year term.