DLP Capital Secures $118 Million Refinance From LoanCore Capital For Houston Multifamily Portfolio

The property asset involved in this transaction is a multifamily portfolio located at 920 Westcott Street and 1640 East T C Jester Boulevard in Houston, TX, consisting of 605 units. The transaction is a refinance with a loan amount of $118,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $118,000,000
• Lender: LoanCore Capital
• Landlord: Don Wenner & Harshit Shihara - DLP Capital
• Loan Type: Refinance
• Units: 605

This refinancing deal was facilitated by DLP Capital’s in-house debt placement team, specifically led by Harshit Shihara. The transaction generated $117 million in proceeds at closing, with an additional $1 million reserved for future capital improvements and is projected to lower annual interest expenses by over $1 million while extending the loan term.