Sansom Pointe Apartments
Sansom Park, Texas
Sansom Pointe Apartments is a 216-unit affordable, senior’s property and Sansom Ridge Apartments is a 100-unit affordable, family property both located in Sansom Park, Texas.
$26,730,000 tax-exempt bond financing providing new construction and permanent loan capital. The bonds were structured with a floating rate during construction converting to a fixed rate upon conversion to permanent financing.
Red Stone purchased $26,730,000 of tax-exempt bonds used to construct Sansom Pointe & Sansom Ridge Apartments. The properties were located on adjacent sites just outside of Fort Worth, Texas. Each phase of the development was financed independently, but under the same program in order to maximize flexibility and efficiency with minimum costs.