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Lument Provides $22.6 Million Bridge Loan for Arlington Multifamily Property
The proprietary bridge loan is for the acquisition and renovation of The Junction, a 205-unit apartment community. The loan is structured with initial funding of $20.7 and a future funding facility of $1.9 million for interior upgrades, such as flooring, appliances and. countertops. The loan features a variable interest rate, three year term and two twelve-month extensions.
The Junction was constructed in 1970 and consists of 28 two-story, garden style residential buildings on nine acres.
The buyer/borrower was American Ventures, a firm which has sold 13 assets and 2,985 units over the past ten years in Texas.
- ◦Sale/Acquisition
- ◦Financing
Apartment buildings for sale
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3801 E MORELAND DR
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Jameson St Apartments
Weatherford, TXTexas + Apartment Buildings
Learn MoreListing Status: Available Listing Type: Highest & best offer Price: $5,160,000 No. of Units: 60 Average Occupancy: 98 Year Built: 1973 Building Size: 44700 Sq ft Lot Size: 4.05 Acres No. of Stories: 2 APN: R000047582 No. of Parking Spots: 100 Opportunity Zone: No Price per unit: $86,000
