CATEGORIES | Debt | Equity | Financial Advisory | Investments | Multifamily | Student Housing
FIDES Capital Partners, LLC (“FIDES”) announces that it has arranged a $4,300,000 bridge loan to finance the recapitalization of a three-property multifamily and commercial portfolio in Nacogdoches, Texas. The loan was used to pay-off the existing financing and a third-party equity provider. “What made this great for the client were the terms and the closing speed. The proceeds exceeded the purchase price and the loan was priced and structured very competitively. From the time we executed the term sheet to the time we closed was only three weeks!” said Greg Longoria, Principal. “Most of our company’s work is in major metros, so I was a bit surprised to see multiple term sheets for a transitional workforce housing asset in Naco. But it had a strong debt yield and experienced sponsorship, so we were easily able to get it done.”