IBorrow provides $20 million in financing for acquisition of 232-unit multifamily property in Dallas, TX

 Brian Good

DALLAS, TX – iBorrow, a nationwide private direct lender for commercial real estate, has provided a $20 million loan to support the acquisition of a 232-unit garden-style multifamily community at 4542 W Kiest Boulevard in the Oak Cliff neighborhood of Dallas, Texas, according to Brian Good, CEO of iBorrow.

 “The borrower had the opportunity to purchase an exceptionally well-located multifamily property within the continuously growing market of Dallas,” explains Good, noting the community’s proximity to several major thoroughfares and employment centers.

232-unit garden-style multifamily community
at 4542 West Kiest Boulevard in the
Oak Cliff neighborhood of Dallas, TX 

 “The asset was recently renovated under previous ownership, further enhancing the strength of this investment and the borrower’s ability to capitalize on current and future demand for quality rental housing in Dallas.”

 Good notes that the Dallas-Fort Worth market will soon lead the nation in in-migration, as it is expected to surpass 70,000 new residents this year.

 According to a recent report, as a result of people relocating to this metropolitan area, apartment absorption will exceed deliveries in 2022, producing downward vacancy pressure and sustaining rent growth.

 “We’re highly confident in the borrower’s business plan as rent growth in the area continues to surge to record highs,” says Good.

 “In order to meet the compressed timelines of today’s market and seize this rare and highly competitive acquisition opportunity, the borrower required quick, reliable financing that our team was able to confidently deliver.”

 CONTACTS: 

Katie Haga / Elisabeth Manville

The Smart Agency, Inc.

(949) 438-6262
khaga@thesmartagency.com