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Old Capital Provides $10M Loan for Apartment Community in Abilene

Cimarron-Apartments-Abilene-Texas

Old Capital provided a five-year, non-recourse bridge loan with 24 months of interest-only payments and a 30-year amortization schedule.

ABILENE, TEXAS — Old Capital has provided a $10 million loan for Cimarron Apartments in Abilene. An out-of-state ownership purchased the 288-unit asset for an undisclosed price. Old Capital provided a five-year, non-recourse bridge loan with 24 months of interest-only payments and a 30-year amortization schedule. The loan features a rehab budget to bring the 1982-era asset up to date.

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