Eastern Union Secures $17.5M Loan For Acquisition Of The Lakes At Madera Apartments

The Lakes at Madera apartments, a 392-unit complex located at 305 West Baker Road in Baytown, TX, has been acquired through a $30.6 million transaction. The multifamily property features a prime location in the Baytown market, making it an attractive investment opportunity.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $30.6 million
• Units: 392
• Loan Amount: $17,492,188

The loan for the acquisition of The Lakes at Madera apartments was secured through Arbor Realty Trust, with Ivan Kaufman serving as the lender. The loan, an acquisition loan, has a three-year term and carries an interest rate of 4.26 percent.

The brokerage team involved in the transaction was Eastern Union, represented by Abraham Bergman, Alex Jaffa, Mikael Rechdiener, Yoel Goldberg, and Michael Muller. Their expertise and negotiation skills played a crucial role in closing the deal.

In conclusion, an acquisition loan of $17,492,188 was secured for the purchase of The Lakes at Madera apartments. The loan terms include a three-year term with a 4.26 percent interest rate. This transaction highlights the successful collaboration between Eastern Union and Arbor Realty Trust in the Baytown multifamily market.