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Texas  + Dallas + Dallas-Fort Worth  + Apartments  |  November 11, 2022
Veleta Arranges $18M Dallas apartment acquisition loan
Mike Boyd
By: Mike Boyd

Veleta Capital Partners Delivers Dallas Multifamily Acquisition Loan

Veleta Capital Partners (VCP) provided $18 million in senior secured, floating-rate bridge financing for the acquisition and renovation of the 137-unit Maverick Oak Lawn Apartments in Dallas. The property, built in 1972, will see some of the money go toward interior and exterior renovations. The non-recourse, 24-month loan was at 68% LTC.

Bellwether Enterprise Real Estate Capital LLC (BWE), a national commercial and multifamily mortgage banking company, brokered the transaction.  

The apartment complex, located at 2600 Arroyo Ave. in Dallas, offers easy access to Dallas North Tollway and Interstate 35E.  

Recently, VCP facilitated an $8.7 million senior secured, fixed-rate loan for the acquisition and light renovation of a 123-unit multifamily asset in Houston.  

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About Mike Boyd

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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