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Trinity Street Capital Partners- Bridge Lending

Trinity Street Capital Partners announces the origination of a $70MM high leverage, non-recourse, bridge loan on two multifamily complexes located in Austin, TX.

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Trinity Street Capital Partners- Bridge Lending

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  1. FOR IMMEDIATE RELEASE For Transaction Inquiries Contact: Media Relations media.relations@trinitystreetcp.com Mr. John Dragone Managing Director Trinity Street Capital Partners 80 Broadway- 5th Floor New York, New York 10004 (212-671-1044) Trinity Street Capital Partners announces the origination of a $70MM high leverage, non- recourse, bridge loan on two multifamily complexes located in Austin, TX. Trinity Street Capital Partners (TSCP), a full service real estate investment bank, announces the origination of a $70MM, 80% loan-to-cost, bridge loan for the acquisition of a two garden style multifamily complexes located in Austin, TX. New York, New York – May 1, 2019 - Trinity Street Capital Partners (TSCP) (www.trinitystreetcp.com), a full service real estate investment bank, announces the origination of a $70MM, 80% loan-to-cost, bridge loan and construction facility for the acquisition and rehabilitation of two multifamily complexes located in Austin, TX. The non-recourse, bridge loan was for 80% of cost, had a 3 year term, with 2/ 1 year extension options. The loan will contain a future funding component that will allow for up to $10MM to be invested in the renovation of the property. Austin is the capital of Texas and the seat of Travis County, with portions extending into Hays and Williamson counties. It is the 11th-most populous city in the United States and the 4th-most populous city in Texas. It is also the fastest growing large city in the United States, the second most populous state capital after Phoenix, Arizona. The city is the cultural and economic center of the Austin–Round Rock metropolitan statistical area, which had an estimated population of 2,115,827 as of July 1, 2017. According to senior underwriter at Trinity Street, “the company has focused on low debt yield and cap rate deals (4-5%), which allow for high leverage bridge loans on property acquisitions with significant upside. Through TSCP proprietary information systems and deep due diligence dives, TSCP has created bridge loan structures for multifamily owners that can achieve up to 90% of cost and going-in debt yields as low as 4%." Trinity Street Capital Partners focuses on non-recourse, high leverage senior & subordinate non- recourse commercial mortgages, construction loans and real estate private equity, with investments starting at $5MM on income producing retail, office, industrial, multifamily,

  2. manufactured housing communities, self-storage and hospitality properties, located throughout the fifty states. For more information about Trinity Street Capital Partners and the services it provides, go to www.trinitystreetcp.com.

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