2008 Transactions

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Tremont Structures $3,400,000 Financing for Texas Multifamily

The Hartford office of Tremont Realty Capital arranged financing for the refinance of Summit Apartments, a 149-unit apartment complex located in Wichita Falls, TX. 

Stephen Henderson, a Senior Director with Tremont, arranged the $3,400,000 bridge loan, which was funded through a regional bank.  The 2-year loan had a prime based interest rate.  The property was 99% occupied at the time of closing. According to Henderson, “The loan provided the sponsor with a short term answer to fit their needs.  The proceeds enabled the sponsor to buy out a partner and provided funds for renovating a neighboring property. Even in a challenging lending environment, the sponsor and lender were able to work together and get the deal closed.”

For additional information on this transaction, please contact:

Stephen Henderson
Senior Director
Email: shenderson@tremontcapital.com
Phone: 860.548.9289