Business
Sunrise Realty Trust, Inc. Commits $46.5 Million as part of a $62.0 Million Senior Loan for The Bohéme in the Bishops Arts District of Dallas, Texas
WEST PALM BEACH, Fla., March 18, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS” or the “Company”) (NASDAQ: SUNS), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced that it closed on a $46.5 million commitment to a $62.0 million senior loan originated by the TCG Real Estate platform to refinance The Bohéme, a Class-A Multifamily asset in Dallas, TX (“Bohéme” or “Property”), with $44.3 million of the SUNS commitment funded at closing. The remaining
About this update from Sunrise Realty Trust, Inc.
[{"type":"image","alt":"Sunrise Realty Trust, Inc.","displaySize":"","headline":null,"caption":"Sunrise Realty Trust, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":170,"url":"https://media.zenfs.com/en/globenewswire.com/96badd4c1f35447df6ae001fd8281555"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/3YnF3RayMZKXb6VYMzLwlA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIzODtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/96badd4c1f35447df6ae001fd8281555","width":300,"height":170}},"lazy":false},{"type":"text","content":"WEST PALM BEACH, Fla., March 18, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS” or the “Company”) (NASDAQ: SUNS), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced that it closed on a $46.5 million commitment to a $62.0 million senior loan originated by the TCG Real Estate platform to refinance The Bohéme, a Class-A Multifamily asset in Dallas, TX (“Bohéme” or “Property”), with $44.3 million of the SUNS commitment funded at closing. The remaining $15.5 million of the total loan is held by an affiliate on the TCG Real Estate platform. The sponsor, Kairoi Residential (“Kairoi”), is a top-tier vertically integrated investment, development, and property management company specializing in Class-A+ urban multifamily projects. Since 2003, Kairoi has transacted on $9.8 billion with projects comprising over 69,000 multifamily units across 20 metro areas in the U.S.","length":919,"tagName":"p"},{"type":"text","content":"Completed in 2023, the Bohéme is an eight-story Class-A multifamily rental community located across from Lake Cliff Park in the heart of the Bishop Arts District in Dallas. Residents at the Property enjoy a rooftop pool with skyline views, a WFH lounge with private meeting rooms, a game lounge, and expansive courtyards. The newly delivered Bohéme features 352 modern apartments outfitted with keyless entry, quartz countertops, large walk-in closets and high-end appliances.","length":476,"tagName":"p"},{"type":"text","content":"“This is a highly desirable location, not only for its proximity to retail, restaurants, museums, public transport and major roadways, but also for its relative affordability. The Property is right in the sweet spot for one of the fastest growing demographics in one of the highest growth areas in the country,” said Al...