HOUSTON — Los Angeles-based Thorofare Capital has provided a $48 million acquisition loan for an undisclosed, 246-unit multifamily property in Houston. Built in 2017 in the city’s Tanglewood neighborhood, the property features an average unit size of 1,427 square feet and was 92 percent occupied at the time of sale. The loan was structured with a fixed interest rate, a seven-year initial term and four years of interest-only payments. The borrower was also not disclosed.
Thorofare Capital Provides $48M Acquisition Loan for Houston Multifamily Property