Grandbridge Originates $10.8M Loan For Tyler Multifamily Property

The property involved in the transaction is the Chelsea Creek, a 180-unit apartment complex located at 4920 Thistle Dr, Tyler, TX, 75703. The asset, built in 1978, features units with walk-in closets, individual washers and dryers, and patios or balconies. Amenities of the complex include a pool, fitness center, business center, and a resident clubhouse. Grandbridge Real Estate Capital provided a $10.8 million Freddie Mac loan for the refinancing of this property.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $10,800,000.00
• Market: Tyler
• Borrower's Representative: Paul Harbor (Bellwether Enterprise (BWE))

Paul Harbor of Grandbridge originated the loan, which has a 10-year term and a 30-year amortization schedule, on behalf of the undisclosed borrower for the Chelsea Creek apartment complex. The property in Tyler, Texas, now benefits from the refinancing provided through the $10.8 million loan facilitated by Grandbridge Real Estate Capital.