Ray Cleeman News Today

DALLAS, TX - Pensam has closed on a $7.6 million preferred equity investment for the recapitalization of The Elise, a 341-unit apartment community located in Dallas, Texas. In connection with the transaction, the sponsor, Windmass Capital, arranged senior financing with a senior mortgage lender and sought out Pensam’s preferred equity solution to provide incremental capital to support the refinancing. “With the rapid increase in interest rates, proceeds from senior loans have been...

Pensam , a diversified multifamily real estate investment firm, has made a preferred equity investment in a portfolio of two properties located in Newnan, Georgia, one of the fastest growing submarkets in the United States. The properties, Woodland Commons and 60 Jane Lane, were acquired by TriWest Multifamily, a premier...

MIAMI, FL - Redwood National Properties, an affiliate of BAS Holdings Investments, LLC (“BAS”), and Winston Capital have secured $46.6 million in financing from City National Bank of Florida and Pensam Capital for The Mirage at Sailboat Cove, a workforce housing development in Opa Locka located at 14301 NW 17 Path. “We want to thank our development team and our lender partners for bringing this all together. We are excited for many more communities in the works,” said...

MIAMI, FL - Pensam, one of the nation’s most active real estate multifamily lenders and investors, announced today that it has provided capital to refinance Sanctuary at Doral, a nearly completed, 226-unit apartment community with 27,000 square feet of retail space located in Miami, Fla. The existing construction financing at the property was refinanced with an $84 million floating-rate loan for a three-year term with an extension option. Construction at the property is in its final stages, a...