DEAL OF THE DAY: Texas Apartments Receive $4 Million Loan
- Jan 22, 2008
Beaumont, Texas– Bethesda, Md.-based Green Park Financial recently provided a $4,258,000 acquisition loan for the Autumn Cove Apartments in Beaumont, Texas.Green Park Financial structured the loan with a seven-year term–three years of interest-only payments followed by a 30-year amortization. Jason Rice of Quantum First Capital originated the loan; Andrew Tapley, Green Park Financial senior vice president, led the Green Park team.Built in 1983, the two-story Autumn Cove is a garden-style apartment complex with 152 units. The property was 80 percent leased at closing.Green Park Financial services $4.4 billion of loans for more than 90,000 apartment homes across 43 states and the District of Columbia.