Grandbridge Closes Alta Royal Oaks Apartments

Published On: 05.01.10

Royal OaksSenior Vice President Mike Ortlip of Grandbridge’s Charlotte, N.C. office and Houston-based Vice President Greg Young co-originated and closed a $19,361,300 loan secured by Alta Royal Oaks Apartments, a 282-unit multifamily community in Houston, Texas.

This transaction was a refinance of an existing HUD-insured loan under Section 221(d)(4) pursuant to Section 223(a)(7).  This FHA refinance included 35-year term and a 35-year amortization.