Greysteel Arranges Refi for Amigos Del Sol
- Jul 19, 2016
Dallas—Greysteel announced it has arranged agency financing for the refinance of the Amigos Del Sol, an El Paso multifamily property, on behalf of Rush Mountain LP of Colorado. The loan amount was not disclosed.
The seven-year, non-recourse loan was provided by an agency lender under the Freddie Mac Small Balance Loan program. This transaction was negotiated by Greysteel Senior Director Anton Mattli and Finance Associate John Marshall Doss, both based in the company’s Dallas-Fort Worth office.
“We were able to close an attractive agency loan for the owner in only 36 days, from application to close,” said John Marshall Doss. “The owner is looking to make property improvements to increase cash flow while maintaining the asset for the duration of the loan,” he added.
Amigos Del Sol was built in 1973 at 10009 Rushing Road and comprises 52 units. The property is located in the North El Paso neighborhood of Rushfair, with easy access to Downtown El Paso via Highway 54. Within a half-mile of the property are six major city parks including Skyline Optimist Youth Park, Sue Young Park, Arlington Park, Veteran’s Park, Franklin Park and Milagro Park. Retail and restaurant venues are also in close proximity.