FINANCED
Granite Towers Equity Group Acquires 310-Unit Multifamily Property In Dallas For $23M
2650 West Northwest Highway
MultiFamily
Financed 111 days ago
Summary
Loan
TEXAS
MultiFamily
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.
Players
All
2
Agents
1
Agencies
1
Details
FINANCED
IMAGE: Michael Roeder & Ralph Rader
DATE: 01/16/2024
ADDRESS: 2650 West Northwest Highway
MARKET: Dallas
ASSET TYPE: Multifamily ~ UNITS: 310
LANDLORD: Michael Roeder - Granite Towers Equity Group (@GraniteTowersEquityGroup)
BROKER: Ralph Rader - Marcus & Millichap Capital Corporation (@MMCapCorp)
LOAN AMOUNT: $23,000,000
LOAN TYPE: Acquisition Loan
LOAN TERMS: fixed rate of 1.86% over the 10-year Treasury, five years of interest-only, followed by a 30-year amortization and a 10-year term
NOTE: Marcus & Millichap Capital Corporation (MMCC) facilitated $23 million in agency financing for Granite Towers Equity Group (GTEG) to acquire a 310-unit multifamily property in Dallas. The financing, led by Ralph Rader, includes a fixed rate of 1.86% over the 10-year Treasury, with five years of interest-only, followed by a 30-year amortization and a 10-year term.View on map
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Address2650 West Northwest Highway
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