Lument Provides $22.6M Acquisition Loan for Junction Apartments in Arlington
ARLINGTON, TEXAS — Lument has provided a $22.6 million bridge loan for the acquisition of The Junction, a 252-unit apartment community in Arlington. The garden-style property was built in 1970 and comprises 28 buildings, a leasing office and a laundry facility. Amenities include a pool, outdoor grilling areas, dog park and a playground. The sponsor, American Ventures, plans to use a portion of the proceeds to fund capital improvements. Ted Nasca led the transaction for Lument.