Real Estate Transactions

BSP provided a $26.25MM floating-rate loan on a 166-unit multifamily property located in Phoenix, AZ. Loan proceeds along with borrower equity will be used to acquire the property and pay closing costs.

BSP provided a $53MM floating-rate loan on a 324-unit, mid-rise multifamily property located in Whitsett, NC. Loan proceeds will be used to retire the existing debt, fund a shortfall reserve, and cover closing costs.

BSP provided an $8.5MM floating-rate loan on a 63K sf retail property located in Westover, WV. Loan proceeds will be used to return equity and cover closing costs.

BSP provided a $21MM floating-rate loan on two skilled nursing facilities with a combined total of 343 licensed beds located in Illinois. Loan proceeds will be used to purchase the properties, fund an immediate repair reserve, and pay closing costs.

BSP provided a $60MM floating-rate loan on a 360-unit, garden-style multifamily property located in Wentworth, GA. Loan proceeds will be used to pay off an existing construction debt, fund a shortfall reserve, return equity to the borrower, and pay closing costs.

BSP provided a $29MM fixed-rate loan on a 204-unit, garden-style multifamily property located in Port Arthur, TX. Loan proceeds will be used to pay off an existing construction debt, pay closing costs and repatriate equity to the sponsor.

BSP provided a $42MM floating-rate loan on a 300-unit, garden-style multifamily property located in Naples, FL. Loan proceeds will be used to pay off an existing loan, repatriate equity to the borrower, fund an immediate repair escrow, and pay closing costs.

BSP provided a $36.8MM floating-rate loan on a 160-unit multifamily property located in Ogden, UT. Loan proceeds will be used to pay off existing construction debt, fund a shortfall reserve, fund a construction completion reserve, and pay loan closing costs.

BSP provided a $65MM floating-rate loan on a 463-unit, 33-building apartment and townhome multifamily property located in Pflugerville, TX. Loan proceeds along with sponsor equity will be used to pay off an existing construction debt, fund a shortfall reserve, pay closing costs, and fund upfront reserves.

BSP provided a $38MM floating-rate loan on a 200-unit multifamily property located in Seattle, WA. Loan proceeds will be used to retire the existing debt, and complete a comprehensive transformation of the asset, which has converted from affordable housing to conventional housing.

BSP provided a $32.75MM floating-rate loan on a 220-unit multifamily property located in San Antonio, TX. Loan proceeds will be used to pay off the existing debt.

FBRT provided an $18.75MM fixed-rate CMBS loan on two, 284-key limited-service hospitality properties located in Chesapeake and Williamsburg, VA. Loan proceeds will be used to refinance the existing debt, repatriate equity to the borrower, fund a PIP reserve, and cover closing costs.