$48M Senior Loan – Permanent Financing
Lease-Up Agency loan for a newly built, 374-unit multifamily development.
- Sponsor had recently completed construction of the 374-unit multifamily project
- Located in a high barrier to entry suburb of Dallas, Texas
- Construction delays had caused a lag in the business plan that necessitated lease-up bridge financing
- Sponsor requested non-recourse execution with competitive pricing
Dekel Capital utilized deep industry relationships to source a multitude of bridge debt options while showcasing Sponsor experience with their current portfolio's lease-up and operation. Dekel obtained a $48.1MM Freddie Mac lease-up fixed rate loan with competitive pricing and an interest only period.