Eli Gershenson with Dallas-based Quantum First Capital LP saysmarket conditions limited the search for a new lender to Fannie Maeand Freddie Mac, with Bethesda, MD-based Green Park Financialstepping up with a non-recourse DUS package to seal the deal. Hetells GlobeSt.com that the private investor from San Franciscoended up with 75% to 80% loan-to-value financing for the17-building Woodridge Apartments at 500 E. Loop 820.


"It was a good deal with a good borrower," Gershenson adds. "Itwas pretty straight forward."


Gershensen says Woodridge's owner pumped $300,000 to $400,000into exterior renovations since he acquired it about one year ago.The complex, developed in 1982, sits on nearly 10.4 acres in aneighborhood of multifamily and single-family dwellings andservice-type business and retail space. Woodridge is a mix of one-,two- and three-bedroom units averaging 797 sf. Rents start at $495per month.

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