Rise48 Equity secures $23m bridge loan for Dallas multifamily acquisition
Rise48 Equity has secured a $23 million bridge loan for the acquisition of a 176-unit multifamily property in Bedford, Texas. The three-year bridge financing was originated by Greystone Monticello on behalf of Rise48 Equity, with JLL acting as correspondent on the transaction.
Rebranded as Rise Oak Creek upon acquisition, the acquired property comprises one- and two-bedroom units spread across 14 low-rise buildings on just over eight acres. The property, which includes a resort-style pool, outdoor grilling areas and kitchen, clubhouse, and business center, is conveniently located between Dallas and Fort Worth with easy access to Highway 183.
“We’re excited to have executed our second loan with Greystone in the Dallas market,” says Zach Haptonstall, CEO, co-founder at Rise48 Equity. “This low-leverage loan and low three-year interest rate cap allows us to employ a conservative financing strategy while mitigating against interest rate risk with little to no pre