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.