Bridge Investment Provides $61M Acquisition Loan on Dallas-Fort Worth Apartments – Trade Observer
Impex Capital Group landed $60.8 million in acquisition financing to buy a multifamily property in the Dallas-Fort Worth area, Commercial Observer has learned.
Bridge Investment Group provided the senior loan for the acquisition by Impex of The apartments of harmonya 616-unit multifamily property in Arlington, Texas.
Stack Sourcean online commercial real estate platform, arranged the transaction with a team led by Beth MercanteSenior Managing Director, and Zach Wagnermain director.
“As a commercial real estate professional with over 30 years of industry experience, including investment sales, development and finance, I have never had the ability to manage a pipeline of trades like I can now with the StackSource platform,” Mercante said. in a report.
Prior to joining StackSource in 2019, Mercante worked for George Soros‘ Quantum Group of Funds on acquisitions and asset management. She also previously worked at AIG Global real estate investment company in its mortgage finance and asset management divisions
Ash Shahpresident and CEO of Impex, said working with StackSource “streamlined the financing process” on this transaction as well as other acquisitions it has recently made.
Impex also worked with StackSource on a $42.8 million project bridging loan he received from Lument in January to acquire The Great at Stone Creek, a luxury multi-family property in San Marcos, Texas, near Austin.
Manhattan-based StackSource was founded in 2017 and recently surpassed $1 billion in transactions. He started by concentrating primarily on serving small borrowers underserved by traditional commercial mortgage brokers, but has recently expanded its capital advisory team to target large real estate investors.
Representatives for Bridge Investment Group did not immediately return a request for comment.
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