The multifamily portfolio, consisting of 189 units across three properties in Sherman and two in Denison near the Texas-Oklahoma border, has secured $15.4 million in bridge-to-agency financing. The undisclosed Texas-based family office will utilize the funds for refinancing and renovation before transitioning to permanent financing through agency channels.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,400,000
• Market: North Texas
• Lender: Stephen Rosenberg & Lance Wright - Greystone
• Loan Type: Refinance
• Loan Terms: Two-year, interest-only bridge financing with two six-month extension options

Greystone, a New York-based lender, provided the $15.4 million in bridge-to-agency financing for the multifamily portfolio located near the Texas-Oklahoma border. The loan will facilitate the refinance and renovation of the properties in Sherman and Denison, comprising a total of 189 units. The deal involves the collaboration of Stephen Rosenberg, Lance Wright, and Greystone to support the undisclosed Texas-based family office in achieving its investment objectives.