BridgeInvest Funds $24 MM Bridge Loan in Huntsville, TX

1st Priority Mortgage Loan

Loan Amount
$24,000,000
Property Type
Student Housing
Location
Huntsville, TX

BridgeInvest is excited to announce the recent closing of a $24 MM refinancing loan for a 502-bed, Class-A student housing property located at Sam Houston State University in Huntsville, TX. The property was delivered in 2018 and despite the sector-wide vacancy hike induced by COVID-19, BridgeInvest believes the property will recover to its pre-pandemic levels. The loan proceeds will be used to provide the sponsor additional time to lease-up and stabilize cash flows.

Transaction Highlights

Student Housing
The sponsor’s experience compelled BridgeInvest to expand its lending mandate to include student housing amid uncertainty surrounding in-person learning.

Value-Add Financing
BridgeInvest was able to help the sponsor refinance its existing debt after underwriting the deal assuming numerous potential exit strategies.

Expanding Texas Presence
The Loan represents BridgeInvest’s continued expansion in Texas, having recently opened a satellite office in Dallas.

Transaction media