Greystone Provides $15.4M Refinance Loan For North Texas Multifamily Portfolio
Greystone Provides $15.4M Refinance Loan For North Texas Multifamily Portfolio
Summary
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.
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