ARLINGTON, TEXAS — A fund sponsored by CBRE Investment Management has provided an acquisition loan of an undisclosed amount for Preslee Apartments, a 290-unit multifamily asset in Arlington. Lauren Bresky of Northmarq Capital arranged the floating-rate loan, which was structured with an initial term of three years with the option to extend by two years. Select units at Preslee Apartments offer private balconies/patios, and communal amenities include a pool, fitness center, business center, clubhouse and outdoor grilling and dining areas. The borrower, Dallas-based S2 Capital, plans to renovate the property.
CBRE Investment Management Provides Acquisition Loan for 290-Unit Multifamily Asset in Arlington