Tides Equities Acquires 500-Unit Multifamily In Dallas For $94.1M

The multifamily property located at 3901 Accent Drive in Dallas has been involved in a closed transaction. The property consists of 500 units and was sold by WillMax Capital. The sale was brokered by Paul Harris, Gregory Smith, Thad Wetterau, and Eric Calub from Berkadia Dallas. The buyer of the property is Tides Equities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $94,140,000
• Date: 04/04/2022
• Market: Dallas
• Lender: Starwood Property Trust
• Loan Type: Acquisition Loan
• Loan Amount: $94,140,000
• Loan Terms: three-year bridge loan with a 3.15 percent interest rate and a 30-year amortization schedule
• Brokers: Chris Pollard from Berkadia Dallas represented the lender, Starwood Property Trust, and Paul Harris, Gregory Smith, Thad Wetterau, and Eric Calub from Berkadia Dallas represented the seller, WillMax Capital.

The three-year bridge loan for the property was financed through Starwood Property Trust. The loan features a 3.15 percent interest rate and a 30-year amortization schedule.