Wednesday, October 28, 2015

CBRE Arranges Refinancing for Gables Park 17 Apartments in Dallas

Gables Park 17 is a 25-story, 292-unit apartment building in Dallas.

DALLAS — CBRE Capital Markets’ debt and structured finance team has arranged the refinancing of Gables Park 17, a 25-story, 292-unit apartment building in Dallas. CBRE worked on behalf of Clarion Gables Multifamily Trust to secure a 10-year, fixed-rate, non-recourse loan.

The MetLife Inc. provided financing. The loan includes a four-year interest-only period and is open to pre-payment without penalty during the last three years. Mark Fisher of CBRE’s Midtown Manhattan office, along with Jay Wagley of CBRE’s Dallas office, facilitated the financing on behalf of the borrower.

Located at 1700 Cedar Springs Road, Gables Park 17 is in Dallas’ Uptown neighborhood. Unit features include wood floors, granite counters, stainless steel appliances, dishwashers, in-unit washer and dryer units and large bathrooms with granite vanities and stand-alone showers. Building amenities include a pool, fitness center, business center, game room and 24-hour concierge. The  apartment tower is part of a mixed-use complex that contains an office tower and parking garage.

Texas Real Estate Business