Southern Gardens Apartments

Location: Houston, TX
Type: Multifamily
Price: $ 4,250,000

SMC’s $4,250,000 first mortgage loan refinanced the Borrower’s existing CMBS loan. The Property is a 211-unit garden style multi-family property located in Houston, TX. Built in 1970, the Property consists of six buildings, and is amenitized by a swimming pool, a laundry room and an on-site leasing office. Proceeds of the Loan were used to repay a maturing CMBS loan, make upgrades to the Property, and provide a return of equity to the Sponsor.