Grandbridge Arranges $67.6M Loan for Apartment Complexes in Austin, Dallas

AUSTIN and DALLAS, TEXAS — Grandbridge Real Estate Capital has closed a $67.6 million refinancing loan secured by 947 units in three multifamily properties: Camden Amber Oaks I and II in Austin and Camden Design District in Dallas. The initial funding is part of a Fannie Mae master credit facility agreement for Camden Multifamily Value Add Fund LP, an affiliate of Camden Property Trust. The Fannie Mae master credit facility, arranged by Grandbridge’s Houston-based senior vice president Greg Young, could refinance up to $275 million of the value add fund’s outstanding debt. Funding for the $67.6 million non-recourse loan was arranged through Fannie Mae’s structured adjustable rate mortgage loan product and features interest-only payments during the 10-year term.