BridgeInvest Closes a $46.5 MM Refinance Loan in San Marcos, TX
1st Priority Mortgage Loan
Loan Amount
$46,500,000
Property Type
Multifamily
Location
San Marcos, TX
BridgeInvest is excited to announce the closing of a $46.5 million senior participation in a larger loan for the refinance of a 384-unit multifamily property in San Marcos, TX. The Sponsor will continue to lease-up the property through stabilization.
- Repo-like pricing with enhanced flexibility
- One week close after A-Note lender failed to transact
- Long-term market stabilization driven by strong demographics despite new supply
