16-unit Multifamily Property – Conroe, TX

16-unit multifamily property

Conroe, TX

Property: 16-unit Multifamily
Deal Type:
Acquisition
Loan Amount: $1,295,000

This deal was a 10-year, amortizing balloon, fixed-rate mortgage loan secured for a 16-unit multifamily property in Conroe, Texas, approximately 40 miles north of Houston. The 14,000 sf garden style apartment community, built in 2019, includes four two-story buildings with a total of 16 two-bedroom / two-bathroom units that are 100% occupied.

Stronghill Capital was able to meet the borrower’s timeline by closing in a timely manner and providing funds to grow the borrower’s commercial real estate investment portfolio.

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