2005 Transactions

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Tremont Funds $2,300,000 Houston Apartment Mezzanine Loan

Tremont Realty Capital refinanced The Club at Copperleaf Apartments, a newly constructed Class-A, 240-unit multifamily community located on 13+ acres in the northwest quadrant of Houston, Texas approximately 15 miles from the CBD. Amenities include a 5,000 square feet clubhouse, a putting green, a sand volleyball court, a business center, and attached and de-attached garages.

The $2,315,000 loan was funded through the a Tremont sponsored Loan Program. The 10-year, non-recourse loan provided for a total of capital and 90% loan-to-value. The mezzanine loan was priced at an 11% interest rate, which is interest only for the first five years. The property was 90% occupied at the time of closing. According to Tremont, "Tremont funded this mezzanine loan with one of our capital partner senior lenders. This seamless transaction allowed the borrower to buy out their partner and enjoy the future upside of the property."

For additional information on this transaction, please contact:

Richard Gallitto
Executive Director
Email: rgallitto@tremontcapital.com
Phone: 617.867.0700 x772