Greysteel has arranged acquisition financing on behalf of a private investor for Lancaster Cornwall Apartments, a multifamily community located in Beaumont, Texas. The firm secured a 10-year, non-recourse GSE loan.
Situated at 6550 Phelan Blvd., the property comprises 265 one-, two-, three- and four-bedroom apartments, averaging 850 square feet. Residents have access to amenities such as two swimming pools, a fitness center, picnic areas, a privacy fence, a clubhouse, a large courtyard and 24-hour maintenance with on-site management. Lancaster Cornwall is within close proximity to downtown Beaumont, Port Arthur and major employers such as Lamar University and ExxonMobil Corp.
Senior Director Anton Mattli of the firm’s Dallas-Fort Worth office, arranged the financing. Last month, Greysteel arranged the sale of Metker Garden, a 68-unit community in Irving, Texas.
Image courtesy of Greysteel