In August of 2022, Emerald Creek Capital provided a $17,437,500 acquisition loan to a repeat borrower in Lancaster, TX. The loan is secured by a multifamily apartment complex with 130,128 square feet of net rentable area across 159 units, ranging from one to three bedrooms. The gated community is situated on a 14.5-acre site with 384 parking spaces. Community amenities include a fitness center, business center, resort-style pool, entertainment areas, and a dog park. Lancaster is a desirable suburb conveniently located just south of Dallas. The area has historic appeal and a charming town center with restaurants, shops, and cultural attractions. The subject property has good access to many highways and regional connectors including Interstate 35E which leads directly to downtown Dallas.
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