River Rock Capital has inked $60.5 million of acquisition financing for the purchase of a multifamily property in San Antonio, Commercial Observer has learned.
Arbor Realty Trust provided the bridge loan for River Rock to acquire Sterling at Castle Hills, a 25-acre apartment development, sources told CO. The debt package was structured as a 76 percent loan-to-cost with River Rock planning to invest in significant capital improvements with the new infusion.
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