Pembrook Provides $12.2M Loan for Recapitalization, Renovation of Irving Apartment Complex

IRVING, TEXAS — New York City-based bridge lender Pembrook Capital Management has provided a $12.2 million loan for the recapitalization and renovation of The Braxton Apartments, a 125-unit complex in Irving. The unit mix comprises 51 studios, 57 one-bedroom apartments and 17 two-bedroom residences. Approximately half of the units are reserved for renters earning between 30 to 80 percent of the area median income. The borrower was not disclosed.