Tremont Mortgage Trust Provides $28M Loan for Refinancing of Downtown Houston Apartments
HOUSTON — Boston-based Tremont Mortgage Trust has provided a $28 million loan for the refinancing of 1711 Caroline, a 220-unit apartment community in downtown Houston. Units, which include one- and two-bedroom formats, feature stainless steel appliances, quartz countertops with tile backsplashes, custom wood cabinets, washers and dryers and private balconies. Amenities include a pool, fitness center, rooftop terrace, media lounge, business center and rentable storage units. The floating-rate loan has an 18-month initial term with two one-year extension options, subject to the borrower meeting certain conditions. The borrower was not disclosed.