Falkin Platnick Realty Group Secures $16.78M Freddie Mac Permanent Loan For Cobblestone Village

The transaction involves a multifamily asset known as Cobblestone Village, located at 951 Turner Road in Grapevine, Texas. The property comprises 200 units and received a permanent loan of $16,782,000 from Freddie Mac, aimed at refinancing existing debt while also facilitating capital improvements.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,782,000
• Asset Address: 951 Turner Road
• Market: Grapevine, TX
• Lender: Freddie Mac
• Landlord: Joshua D. Platnick - Falkin Platnick Realty Group
• Broker: Jake Roberts - BWE
• Loan Terms: 7-year term and full-term interest only payments

Jake Roberts from BWE represented Falkin Platnick Realty Group in this transaction. The secured loan will not only serve to refinance the existing financial obligations on the property but also fund necessary capital improvements to enhance the apartment community.