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$31,400,000 | San Marcos, TX building

San Marcos, TX

Transaction Type

Cash Out Refinance


Loan Type

Bridge Loan

Situation & Challenges

  • Class A, 391-bed, 6-story mid-rise student housing building, located 6 blocks from Texas State University
  • Construction loan refinanced to an A10 bridge loan
  • Low occupancy at time of closing due to construction delays

Solutions & Highlights

  • Committed and experienced Borrower who continually supported the property
  • Property offered top of the market amenity package
  • Borrower hired highly experienced management/leasing representative
  • 3-year, floating-rate, interest only term