Real Estate Transactions

BSP provided a $58MM floating-rate loan on a 282-unit multifamily property located in Scottsdale, AZ. Loan proceeds will be used to retire an existing debt, and pay loan closing costs.

BSP provided a $49MM floating-rate loan on a 335-unit, mid-rise multifamily property located in Charlotte, NC. Loan proceeds will be used to pay-off an existing debt, fund a shortfall reserve, and cover closing costs.

FBRT provided a $31.5MM fixed-rate CMBS loan on a 99-unit multifamily property located in Torrance, CA. Loan proceeds will be used to cover closing costs and return equity to the borrower.

BSP provided a $29.34MM floating-rate bridge loan on two self-storage properties totaling 1,347 units located in Warwick, RI and West Warwick, RI. Loan proceeds along with borrower equity will be used to acquire the properties, fund an upfront CapEx reserve, and pay closing costs.

BSP provided a $58.75MM floating-rate bridge loan on a 320-unit garden-style multifamily property located in St. Augustine, FL. Loan proceeds along with borrower equity will be used to retire an existing debt, pay construction costs, fund an insurance reserve, pay closing costs, and fund a shortfall reserve.

BSP provided a $36.25MM floating-rate loan on a 216-unit multifamily property located in Beaufort, SC. Loan proceeds were used to retire the existing construction loan and pay loan closing costs.

BSP provided a $155.1MM floating-rate bridge loan on a 974-unit multifamily portfolio comprising four properties located throughout FL. Loan proceeds will be used to retire an existing construction debt, fund a shortfall reserve, and pay closing costs.

BSP provided a $60.7MM floating-rate bridge loan on a 300-unit garden-style multifamily property located in Port Saint Lucie, FL. Loan proceeds will be used to retire an existing construction debt and pay closing costs.

BSP provided a $40.75MM floating-rate loan on a 246-unit multifamily property located in Chattanooga, TN. Loan proceeds will be used to fund a shortfall reserve, reimburse construction costs, and cover closing costs.

BSP provided a $54.1MM floating-rate loan on a 348-unit, garden-style multifamily property located in Charlotte, NC. Loan proceeds along with borrower equity will be used to retire an existing debt, cover closing costs, and fund a 1-year interest rate cap.

BSP provided a $43.2MM floating-rate loan on a 312-unit, garden-style multifamily property located in Mooresville, NC. Loan proceeds along with borrower equity will be used to retire an existing debt, cover closing costs, and fund a 1-year interest rate cap.

BSP provided a $40.3MM floating-rate loan on a 293-unit, garden-style multifamily property located in Greer, NC. Loan proceeds along with borrower equity will be used to retire an existing debt, cover closing costs, and fund a 1-year interest rate cap.