Gulfstream Capital Group is pleased to announce the closing of a mezzanine loan on an infill, existing multifamily property in the South Congress submarket of Austin, Texas.
- Mezzanine loan: Funded the GP’s purchase of all LP interests and pre-development costs associated with potential future development of the property
- Combined leverage of first and mezzanine loans are an attractive LTV relative to existing operations and land value
- Asset Quality: Existing asset is Class C apartments with proven track record of cash flow
- Location: Infill location on major thoroughfare with multiple multifamily and retail developments recently completed or under construction in the immediate area
|Type:||Class C Multifamily|
|Units:||Potential redevelopment includes over 500 units|
|Square Feet:||Approximately 425,000 SF of developable land|
GULFSTREAM CAPITAL GROUP, LLC is a Real Estate Investment Manager located in Dallas, Texas focused on the nationwide acquisition of Multifamily and Mixed-Use Real Estate, including Conventional, Condominiums, Senior and Student Housing.
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