iBorrow Lends $20 million For Dallas Multifamily Purchase
The 232-unit property is 15 minutes from Downtown Dallas in the Oak Cliff neighborhood. The recently renovated asset, now called Estrella, is near a number of industrial sites along Interstate 20 and Interstate 30.
The CEO of iBorrow, Brian Good is very bullish on the area, “The borrower had the opportunity to purchase an exceptionally well-located multifamily property within the continuously growing market of Dallas.” Good notes from a published report that the Dallas-Fort Worth market will soon lead the nation in in-migration, as it is expected to surpass 70,000 new residents this year. According to the report , apartment absorption will exceed deliveries in 2022, producing downward vacancy pressure and sustaining rent growth.
iBorrow has provided $1 billion in real estate 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.