Basis Multifamily Finance Provides $7.3M Agency Refinancing of Affordable Housing Property in Nacogdoches, Texas

NACOGDOCHES, TEXAS — Basis Multifamily Finance, a subsidiary of New York City-based Basis Investment Group, has provided an $7.3 million Freddie Mac loan for the refinancing of Stone Creek Apartments, an affordable housing property located in the East Texas city of Nacogdoches. The property offers one- and two-bedroom floor plans and amenities such as a pool, fitness center and a business center. The sponsor was New Jersey-based Ambo Properties. Stone Creek was 93 percent occupied at the time of the loan closing.