Property Types Multi-Family
Quantum First Closes Loan for Woodridge Apartments
July 1, 2008

Dallas-based Quantum First Capital has closed a $6.5 million loan to finance the Woodridge Apartments in Fort Worth, Tex. The loan was funded through Quantum First Capital’s correspondent relationship with Green Park Financial through the Fannie Mae DUS program. This financing replaced the borrower’s current interim bank loan with a long-term fixed rate debt. Structured on a 7-year term with 2 years interest only followed by a 30-year amortization, the loan carries a sub-6 percent interest rate. The Woodridge Apartments is located at 500 East Loop 820, along the west side of Loop 820 and less than a mile north of Interstate 30. The seventeen building, 248-unit project was completed in 1982, and is surrounded by a mix of multifamily and single family homes, business and retail centers. Developed on 10 acres, the community offers one, two, and threebedroom floor plans averaging 797 square feet. Property amenities include a clubhouse, swimming pool, courtyard, laundry center, courtesy patrol, and covered parking.


 
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