Lev Brokers Secure $11.7 Million Bridge Refinance Deal For Houston Multifamily Apartment Complex

Lev, the commercial real estate (CRE) financing platform, today announced the closing of a bridge refinance loan for a 289,000 square foot multifamily property in Houston, TX. The loan is structured as a floating rate, three-year, interest-only debt package. The Property, purchased in December 2020 by Claridge Properties, based in Los Angeles, is encumbered by a Land Use Restrictive Agreement (LURA), which restricts leasing to families who meet certain income requirements. With Lev's vast experience and hands-on approach, the deal closed quickly at attractive terms for the Borrower.