RFM Property Group Secures $8M Loan For Dallas Multifamily Property With Lender Progress Capital - Abe Mann

The property involved in this transaction is a multifamily asset located at 9727 Whitehurst Dr in Dallas. The property consists of 98 units. The transaction took place on July 1, 2021.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,000,000
• Loan Term: Three-year term plus two one-year extension options
• Loan-to-Cost Ratio: 78%
• Borrower: RFM Property Group
• Lender: Progress Capital - Abe Mann

Abe Mann, representing Progress Capital, served as the lender for this transaction. The loan amount provided was $8,000,000, with a loan-to-cost ratio of 78%. The loan term is for three years, with the option to extend for two additional one-year terms.