Greysteel, a national commercial real estate investment services firm, has arranged the sale and acquisition financing for Casas de Brookbend, a multifamily property located in the Far North Dallas neighborhood of Dallas, TX, on behalf of Casas de Brookbend, LLC to Casa de Arroyo, LLC.

Greysteel Managing Director, Boyan Radic; Senior Director, Doug Banerjee; and Investment Associates, Andrew Mueller, Ryan Hill, and Andrew Hanson; who are all based in the company’s Dallas and Fort Worth offices, represented the seller and procured the buyer.

The seven-year loan, provided by an agency lender under the Freddie Mac Small Balance Loan Program, features a fixed-rate of 4.50% and two years of interest-only payments. The financing was arranged by Greysteel Senior Director, Anton Mattli, and Finance Associate, John Marshall Doss, who are also based in the firm’s Dallas and Fort Worth, TX offices.

Casas de Brookbend, built in 1968, is composed of six two-story buildings totaling 50 units. Property amenities include an on-site laundry facility, on-site management office, pergola, and picnic area. Located at 8360 Spring Valley Road, the property is conveniently positioned in the heart of Far North Dallas, offering easy access to the High Five Interchange, Interstate 75, Interstate 635, and the Dallas North Tollway. The property is also directly serviced by DART bus 463, shuttling commuters east to Downtown Garland or West to the Addison Transit Center. Additionally, the DART Spring Valley Road light rail station is less than one mile from the property.

"Casas de Brookbend is a recently rehabilitated asset that will allow new ownership to achieve significant returns in the first year due to the attractive financing including two years of interest-only payments achieved by the Greysteel Debt & Structured Finance team," said Mr. Banerjee. "The purchaser plans to renovate the remaining units as they turn over to continue increasing rents to market rates, which have been achieved in approximately 50% of the apartments,” he added.

About Greysteel:

Greysteel is a commercial real estate and capital markets services firm with seven offices located in Los Angeles, CA; Washington, D.C.; Baltimore, MD; Philadelphia, PA; Dallas, TX; Fort Worth, TX; and Norfolk, VA. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets. www.greysteel.com