Pensam funded a $6.2MM first mortgage bridge loan to support the acquisition of a multifamily community in McAllen, TX. The borrower was in need of a lender who could meet a tight timeframe under the purchase contract and provide surety of execution.
“We continue to provide flexible and creative capital to our sponsors, focused on time-sensitive and opportunistic transactions,” said Noah Miller, Executive Vice President of Pensam. “Our expertise in multifamily and our wide geographical footprint allow us to move quickly from term sheet to closing.”
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