Multifamily bridge loan for The Groove funds
McBride Capital recently closed an acquisition bridge loan for The Groove (formerly known as Hampton Hills Apartments), in Vancouver, WA with our correspondent HUD lender. The $10,700,000 bridge loan provided non-recourse financing for the acquisition of the 110-unit property as well as the timeline required to get rents up and process a HUD 223(f) loan.
The client has been a client of McBride Capital for more than a decade and we enjoy a close relationship with their team. We look forward to working with them on the HUD 223(f) loan in the near future.
The loan was originated by Ken McBride and Sabrina Snow.