Gayle Bulls Dixon, Managing Partner of Dixon Link Capital, is in the news for arranging a $15.5 million Fannie Mae DUS® loan to refinance Redbird Trails Apartments, an affordable multifamily community in Dallas, Texas. The loan was provided by Lument, a national leader in commercial real estate finance.
Lument’s Chad Musgrove skillfully led the transaction, ensuring the deal sustained a severe winter storm that impacted the Dallas area during the loan process.
To quote Lument’s official press release:
“Originally built in 1985, Redbird Trails Apartments consists of 21 two- and three-story apartment buildings containing one- and two-bedroom units. The community has been owned and operated by the current sponsor since 1992. Substantial capital improvements totaling $463,000 have been made in recent years. Approximately 20% of units are reserved for renters at or below 50% of area median income (AMI), and 80% of units are reserved for renters at or below 60% of AMI.”
“To further improve the community and position it for long-term success, the sponsor sought a Fannie Mae refinance that would allow for cash-out proceeds to be used both for renovations and to invest in acquiring additional multifamily real estate.”
“The Fannie Mae loan features a 12-year term, 30-year amortization period and low, fixed interest rate. In addition, it provides for approximately $600,000 for planned capital expenditures and renovations. The broker on the transaction was Gayle Bulls Dixon of Dixon Link Capital, a woman-owned mortgage brokerage firm based in Florida.”
Rain or shine – or, in this case, snow – borrowers can depend on Dixon Link Capital to help them reach the closing table with the funding they need.
Dixon Link Capital is a full-service commercial mortgage brokerage firm helping entrepreneurs, developers, and real estate investors fund their most unique capital projects. We are “Your Link to Lenders.”
