Cushman & Wakefield's Texas Team Arranges $95.7 Million in Financing for Multifamily Portfolio

MT Newswires Live07-28

Cushman & Wakefield's (CWK) Texas Equity, Debt & Structured Finance team has arranged about $95.7 million in financing for a 626-unit, two-property multifamily portfolio on behalf of borrower Sundance Bay, the company said Monday.

The financing package consists of $76.2 million in senior debt provided by Benefit Street Partners and a $19.5 million mezzanine loan through CCL Capital, according to a statement.

The portfolio includes Grove East, a 324-unit Class A garden-style community in Humble, Texas, and Rowlett Station, a 302-unit Class A mid-rise community in Rowlett, Texas, the company said.

Price: 13.10, Change: +0.38, Percent Change: +2.99

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