Rockwall Commons Apartments

Location: Rockwall, TX
Type: Multifamily
Price: $ 22,000,000

SMC provided a $22,000,000 loan to refinance the Borrower’s prior debt on Rockwall Commons Apartments. Built in 2008, Rockwall Commons Apartments consists of a 202-unit four-story Class A multifamily building with approximately 8,500 SF of ground floor retail space. Amenities at Rockwall Apartments include a private movie room, 348 underground parking spaces, swimming pool and hot tub, putting green, shuffleboard and table tennis, playground, jogging trail, outdoor chess board, tennis courts, and business center. Occupancy has been greater than 90% every month for the past 20 months and the Property was approximately 98% occupied at the time of the loan closing.