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Benefit Street Partners Provides $103M Bridge Debt for Texas Multifamily Portfolio
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Commercial Observer
Vantage Communities has secured $103 million in bridge debt to refinance a three-property, 864-unit multifamily portfolio in three cities in Texas, Commercial Observer can first report.
Benefit Street Partners provided the debt, which will finance the property toward full stabilization and is structured as a floating-rate, interest-only bridge loan with a three-year term.
“Benefit Street Partners recognized the quality of the sponsorship, the assets, and the long-term fundamentals supporting these dynamic Central Texas markets,” said Fletcher.
; and Vantage at Fair Oaks — a 288-unit complex located at 9135 Dietz Elkhorn Road in Boerne, Tex.
All three assets opened in either 2023 or 2024 and feature amenities such as resident clubhouses, fitness centers and resort-style swimming pools.