$17 Million Loan Secured For 312 Northeast Mcalister Road Multifamily In Burleson By Cornerstone Capital Financing

The property involved in this transaction is a multifamily asset located at 312 Northeast Mcalister Road in Burleson. The asset consists of 144 units and encompasses a total square footage of 108,930. The transaction was supported by a loan amount of $17,000,000, which is categorized as an acquisition loan with specific terms set for a 24-month duration. The property was recorded as 70% occupied at the time of closing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $17,000,000
• Loan Type: Acquisition
• Loan Terms: 24 Month Loan, Full Term Interest Only, SOFR + 3.75%
• Occupancy at Closing: 70%
• Lender's Representatives: Russell Nova & Igor Zakh - Cornerstone Capital Financing
• Date of Transaction: 01/31/2025

Key individuals involved in this transaction include Russell Nova, Principal at Cornerstone Capital Financing, and Igor Zakh, Operating Officer at the same firm. Both representatives worked closely with the ownership team to facilitate a timely closing in a challenging lending environment, demonstrating effective collaboration with legal and underwriting teams to address the complexities associated with the asset type and its occupancy status.