Raj Guntnur Acquires Multifamily Property In Grand Prairie With Loan Amount Of $13.4M

Raj Guntnur has recently completed a closed property transaction for a multifamily asset located at 417 W. Tarrant Road in Grand Prairie. The off-market sale was facilitated by Pete Hartnett and Matt Waskow of Rowan Multifamily Property Advisors, representing the sellers, while John Brickson of Old Capital acted as the buyers' representative. The transaction took place on 12/29/2020.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $13,400,000
• Loan Terms: Non-Recourse Bridge Loan at 75% LTC
• Address: 417 W. Tarrant Road, Grand Prairie

Although no further information is provided about the property itself, it is noteworthy that the acquisition involved a non-recourse bridge loan amounting to $13,400,000. The loan, securing 75% loan-to-cost ratio, facilitated the successful completion of the off-market sale.