Basis Multifamily Finance Closes Three Texas Refi Loans
Basis Multifamily Finance (BMF) has closed three Freddie Mac conventional multifamily loans totaling $27.8M. The three individual financings provided by Basis, a nationally recognized CRE and multifamily lender and investor, went to the following complexes:
Glen Hollow Apartments in Kilgore, Texas
Stone Creek Apartments in Nacogdoches, Texas
Sunridge Apartments in Nacogdoches, Texas.
The three complexes are affordable housing buildings totaling 452 units. All three complexes have at least 93% occupancy.
All three loans were sponsored by AMBO Properties, and were made to refinance existing Basis bridge loans, which were used to renovate the 3 garden-style apartment complexes.
Basis’s Tammy K. Jones added, “These three transactions highlight the versatility of the platform through our ability to provide the initial bridge loans as well as the Freddie Mac take-out loans.”
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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