Real Estate Transactions

BSP provided a $67MM floating-rate loan on two multifamily properties totaling 586 units located in Fort Worth MSA, TX. Loan proceeds along with borrower equity will be used to acquire the properties, pay closing costs, and purchase an interest rate cap.

BSP provided a $62MM floating-rate loan on a 339-unit, garden-style multifamily property located in Raleigh, NC. Loan proceeds will be used to retire the existing debt, fund a shortfall reserve, cover closing costs, and return equity to the borrower.

Vehicles managed by BSP in partnership with Palisade Group Management Company, Inc, have purchased a 231K SF industrial property consisting of two warehouses located in Gardena, CA for $44MM.

Vehicles managed by BSP have purchased a mixed-use property consisting of 433 apartment units and 12K SF retail located in Douglasville, GA for $73.25MM. The equity along with a floating rate bridge loan will be used to acquire the property and fund capital improvements.

BSP provided a $55MM floating-rate loan on a mixed-use property consisting of 232 apartment units and 58K SF of retail space located in Morrisville, NC.

BSP provided a $50.3MM floating-rate loan on a 200-unit, mid-rise multifamily property located in Flemington, NJ. Loan proceeds were used to retire existing debt, cover closing costs, and return equity to the borrower. 

BSP provided a $24.9MM floating rate construction-completion loan on a 192-unit, garden-style multifamily property located in Conyers, GA. Loan proceeds along with borrower equity will be used to retire the existing debt, fund a shortfall reserve, pay closing costs, and fund remaining construction costs.

BSP provided a $96.82MM floating-rate loan on a 226-unit multifamily property located in Asbury Park, NJ. Loan proceeds will be used to pay off the existing debt, pay closing costs and fund a shortfall reserve.

BSP provided a $10.5MM fixed-rate CMBS loan and Benefit Street Partners provided a $1MM fixed-rate Mezzanine Loan on a 36-unit multifamily property with ground floor retail located in Yonkers, NY. Loan proceeds will be used to retire the existing loan, pay loan closing costs, and repatriate equity back to the Sponsor.

BSP provided a $64.2MM floating-rate loan on four skilled nursing facilities and two assisted living facilities with a combined total of 426 licensed beds located in Minnesota. Loan proceeds will be used to retire the existing debt, refinance a seller note and LOC, repay equity to the sponsor, fund an immediate repairs reserve and pay closing costs.

BSP provided a $47.58MM floating-rate loan on a 323-key dual-branded hospitality property located in Fort Lauderdale, FL. Loan proceeds will be used to pay off the existing debt, pay off preferred equity redeemed at par, and pay closing costs.

BSP provided a $28MM floating-rate loan on a 274-unit, garden-style multifamily property located in Katy, TX. Loan proceeds will be used to retire the existing debt, purchase a rate cap, and pay closing costs.