REBusinessOnline

Lument Provides $32.3M Acquisition Loan for Metro Houston Multifamily Community

PORTER, TEXAS — Lument has provided a $32.3 million bridge loan for the acquisition of Villas at Valley Ranch, a 312-unit apartment community located in the northeastern Houston suburb of Porter. Units feature one- and two-bedroom floor plans, and amenities include a pool, clubhouse, fitness center, conference room and a theater room. The loan carried a fixed interest rate and a three-year term. The borrower, San Antonio-based investment firm LYND Co., will use a portion of the proceeds to fund capital improvements. Marc Suarez of Lument led the transaction.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ NAI Global
‣ Walker & Dunlop

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