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Units / buildings56
MarketFort Worth, TX
Transaction overview
The property was 94.8% occupied at closing with rental rates approximately 5.5% below market.
The sponsor will mark leases to market, burn off concessions, and implement a RUBS program to increase cash flows.
Highlights
- Multifamily
- Below-market rents
- RUBS program
- Fort Worth, TX
Loan details
- Loan type
- Floating rate bridge loan
- Structure
- Acquisition — rent mark-to-market
Structure
- Recourse
- Typically non-recourse except for standard carve-outs
Terms
- Term
- 6 months to 5 years
Markets
- Markets
- Primary, secondary, and select tertiary U.S. markets
Additional information
- Transaction details are provided for informational purposes based on publicly available deal summaries.
