QUANTUM CLOSES $11 MILLION ACQUISITION LOAN FOR TOWER

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DALLAS Dallas-based Quantum First Capital has closed an $11 million acquisition loan for Wedgwood Tower Residences located at 2511 Wedglea Dr. in Dallas. The company originated the 3-year bridge term loan on behalf of a private, out-of-state borrower that plans to renovate both the interior and exterior of the 11-story property. Built in 1964 and first renovated in 2005, the high-rise complex houses 299 units on 8.2 acres. Jason Rice of Quantum First Capital originated the loan through Legg Mason Real Estate Investors.

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