Stratus Succeeds with 448-Unit Santal $75M Refi

Santal Apartments, AustinStratus Properties Inc. successfully closed on a $75 million loan to refinance the Santal, 448-unit multifamily property in Austin’s Barton Creek area. The local developer secured the three-year, non-recourse loan through ACRC Lender LLC, which carries interest at LIBOR plus 2.85%, with a 4.8% floor. The refi is being used to pay off an existing …

The post Stratus Succeeds with 448-Unit Santal $75M Refi appeared first on Connect Media.

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Apartments & Multifamily, Austin, Financing, National News, Southwest News