Greystone Secures $22.9M Bridge Loan For Multifamily Property In Fort Worth

The Barcelona on Chisolm Trail, a 248-unit multifamily property located at 5101 Overton Ridge Boulevard in Fort Worth, Texas, was refinanced through a $22.9 million bridge loan and preferred equity. The financing, secured by Greystone, consisted of a $19.5 million 3-year bridge loan and $3.35 million in preferred equity for the property owned by Mike Phillips of MBP Capital Partners.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $22,900,000
• Units: 248
• Acres: 10
• Lender: Lubert-Adler Real Estate Funds
• Landlord: Mike Phillips - MBP Capital Partners
• Brokers: Dante Distefano, Lance Wright, Thomas Wayda & Matthew Zisler - Greystone

Greystone, represented by Dante Distefano, Lance Wright, Thomas Wayda, and Matthew Zisler, arranged the financing for the Barcelona on Chisolm Trail, ensuring the successful completion of the $22.9 million bridge loan and preferred equity transaction in Fort Worth, Texas.