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
Sunrise Realty Trust (SUNS) has announced a significant real estate financing deal, committing $46.5 million as part of a $62.0 million senior loan for The Bohéme, a Class-A multifamily property in Dallas, Texas. The transaction closed with $44.3 million funded initially, while the remaining $15.5 million is held by a Tannenbaum Capital Group (TCG) Real Estate platform affiliate.
The Bohéme, completed in 2023, is an eight-story luxury apartment complex featuring 352 modern units. Located in the Bishop Arts District, the property offers premium amenities including a rooftop pool with skyline views, WFH lounge, game lounge, and expansive courtyards. The borrower, Kairoi Residential, is an established real estate firm that has handled $9.8 billion in transactions across 20 metro areas, developing over 69,000 multifamily units since 2003.
Sunrise Realty Trust (SUNS) ha annunciato un'importante operazione di finanziamento immobiliare, impegnando 46,5 milioni di dollari come parte di un prestito senior di 62,0 milioni di dollari per The Bohéme, una proprietà multifamiliare di Classe A a Dallas, Texas. La transazione si è conclusa con 44,3 milioni di dollari finanziati inizialmente, mentre i restanti 15,5 milioni di dollari sono detenuti da un'affiliata della piattaforma immobiliare Tannenbaum Capital Group (TCG).
The Bohéme, completato nel 2023, è un complesso di appartamenti di lusso di otto piani con 352 unità moderne. Situato nel Bishop Arts District, la proprietà offre servizi premium tra cui una piscina sul tetto con vista sullo skyline, una lounge per il lavoro da casa, una lounge per i giochi e ampi cortili. Il mutuatario, Kairoi Residential, è una società immobiliare consolidata che ha gestito 9,8 miliardi di dollari in transazioni in 20 aree metropolitane, sviluppando oltre 69.000 unità multifamiliari dal 2003.
Sunrise Realty Trust (SUNS) ha anunciado un importante acuerdo de financiamiento inmobiliario, comprometiendo 46,5 millones de dólares como parte de un préstamo senior de 62,0 millones de dólares para The Bohéme, una propiedad multifamiliar de Clase A en Dallas, Texas. La transacción se cerró con 44,3 millones de dólares financiados inicialmente, mientras que los restantes 15,5 millones de dólares son mantenidos por una afiliada de la plataforma inmobiliaria Tannenbaum Capital Group (TCG).
The Bohéme, completado en 2023, es un complejo de apartamentos de lujo de ocho pisos que cuenta con 352 unidades modernas. Ubicado en el Bishop Arts District, la propiedad ofrece comodidades premium que incluyen una piscina en la azotea con vistas al horizonte, una sala de trabajo, una sala de juegos y amplios patios. El prestatario, Kairoi Residential, es una firma inmobiliaria establecida que ha manejado 9,8 mil millones de dólares en transacciones en 20 áreas metropolitanas, desarrollando más de 69,000 unidades multifamiliares desde 2003.
선라이즈 리얼티 트러스트 (SUNS)가 중요한 부동산 금융 거래를 발표하며 4,650만 달러를 6,200만 달러의 선순위 대출의 일환으로 보헤메(The Bohéme)라는 텍사스 달라스의 A급 다가구 주택에 투자하기로 했습니다. 이 거래는 4,430만 달러가 초기 자금으로 지원되었으며, 나머지 1,550만 달러는 타넨바움 캐피탈 그룹(TCG) 부동산 플랫폼의 계열사에 의해 보유되고 있습니다.
2023년에 완공된 보헤메는 352개의 현대적인 유닛을 갖춘 8층짜리 고급 아파트 단지입니다. 비숍 아트 지구에 위치한 이 부동산은 스카이라인 전망을 갖춘 옥상 수영장, 재택 근무 라운지, 게임 라운지 및 넓은 안뜰 등 프리미엄 편의 시설을 제공합니다. 차입자 카이로이 레지덴셜(Kairoi Residential)은 2003년 이후 20개 대도시 지역에서 98억 달러의 거래를 처리하며 69,000개 이상의 다가구 유닛을 개발한 잘 알려진 부동산 회사입니다.
Sunrise Realty Trust (SUNS) a annoncé un accord de financement immobilier significatif, s'engageant à investir 46,5 millions de dollars dans le cadre d'un prêt senior de 62,0 millions de dollars pour The Bohéme, une propriété multifamiliale de classe A à Dallas, Texas. La transaction a été conclue avec 44,3 millions de dollars financés initialement, tandis que les 15,5 millions de dollars restants sont détenus par une filiale de la plateforme immobilière Tannenbaum Capital Group (TCG).
The Bohéme, achevé en 2023, est un complexe d'appartements de luxe de huit étages comprenant 352 unités modernes. Située dans le quartier Bishop Arts, la propriété offre des équipements de premier ordre, notamment une piscine sur le toit avec vue sur la skyline, un salon de travail à domicile, un salon de jeux et de vastes cours. L'emprunteur, Kairoi Residential, est une entreprise immobilière bien établie qui a géré 9,8 milliards de dollars de transactions dans 20 zones métropolitaines, développant plus de 69 000 unités multifamiliales depuis 2003.
Sunrise Realty Trust (SUNS) hat einen bedeutenden Immobilienfinanzierungsdeal angekündigt und sich 46,5 Millionen Dollar als Teil eines 62,0 Millionen Dollar Senior-Darlehens für The Bohéme, eine Class-A-Multifamilienimmobilie in Dallas, Texas, verpflichtet. Die Transaktion wurde mit 44,3 Millionen Dollar initial finanziert, während die verbleibenden 15,5 Millionen Dollar von einer Tochtergesellschaft der Tannenbaum Capital Group (TCG) gehalten werden.
Die Bohéme, die 2023 fertiggestellt wurde, ist ein achtstöckiger Luxuswohnkomplex mit 352 modernen Einheiten. Die Immobilie befindet sich im Bishop Arts District und bietet hochwertige Annehmlichkeiten, darunter einen Dachpool mit Blick auf die Skyline, eine WFH-Lounge, eine Spiel-Lounge und weitläufige Innenhöfe. Der Kreditnehmer, Kairoi Residential, ist ein etabliertes Immobilienunternehmen, das seit 2003 9,8 Milliarden Dollar an Transaktionen in 20 Metropolregionen abgewickelt und über 69.000 Mehrfamilienhäuser entwickelt hat.
- Significant lending deal: $46.5M commitment with $44.3M already funded
- Partnership with established developer Kairoi Residential ($9.8B transaction history)
- Prime location in high-growth Dallas market
- Recently completed (2023) Class-A property with 352 units
- None.
Insights
Sunrise Realty Trust's $46.5 million commitment to a larger $62 million senior loan represents a substantial transaction for the company, constituting approximately
The target property's profile is noteworthy - a newly constructed (2023) Class-A multifamily asset with 352 units in Dallas's Bishop Arts District, managed by Kairoi Residential, which has transacted on
For SUNS, operating on the Tannenbaum Capital Group Real Estate platform, this transaction aligns with their strategy of providing senior financing to quality commercial real estate projects. The loan likely offers attractive risk-adjusted returns given the property's premium positioning, amenities, and location in a high-growth market. The size of this commitment relative to SUNS's market cap makes this an especially significant transaction that should meaningfully contribute to their interest income generation in upcoming quarters.
The Bohéme represents a strategic asset in one of America's most dynamic multifamily markets. Located in Dallas's Bishop Arts District, this property hits several key real estate value drivers: proximity to urban amenities, transit accessibility, and relative affordability within a high-growth metro area. The property's 2023 completion means modern building systems and amenities designed to appeal to the premium renter demographic.
The refinancing structure suggests Kairoi is transitioning from construction or initial stabilization financing to longer-term debt, a typical progression that indicates the property is performing to expectations. Kairoi's statement about "transition[ing] the capital stack" and remaining in the neighborhood "for years to come" signals long-term ownership intentions rather than a quick flip strategy.
The timing of this refinancing is favorable for both lender and borrower, as Dallas continues to see strong multifamily demand driven by population growth and employment expansion. Class-A multifamily assets in urban infill locations have demonstrated resilience even during market fluctuations, making this a relatively conservative lending opportunity for SUNS despite its large commitment relative to the company's size. This transaction exemplifies the company's ability to secure lending positions in institutional-quality assets that would typically attract larger capital providers.
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
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.
“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 Alfred Trivilino, who joined the TCG Real Estate platform as a Managing Director in January. Trivilino added, “I’ve worked with the principals of Kairoi for 20+ years and their track record and specialization in urban Class-A multifamily provide us with total confidence in their ability to execute and deliver.”
Daniel Zunker, Principal at Kairoi Residential, commented, “Bishop Arts is so cool and continues to be one of Dallas' most unique, amenity-rich districts. We love being in the neighborhood and we appreciate TCG’s role in helping Kairoi transition the capital stack to allow us to be a part of Bishop Arts for years to come.”
About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. (NASDAQ: SUNS) is an institutional commercial real estate (“CRE”) lender providing flexible financing solutions to sponsors of CRE projects in the Southern United States. It focuses on transitional CRE business plans with the potential for near-term value creation, collateralized by top-tier assets in established and rapidly expanding Southern markets. For additional information regarding the Company, please visit www.sunriserealtytrust.com.
About TCG Real Estate
TCG Real Estate refers to a group of affiliated CRE-focused debt funds, including a Nasdaq-listed mortgage REIT, Sunrise Realty Trust, Inc. (NASDAQ: SUNS), and a private mortgage REIT, Southern Realty Trust, Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets located primarily within markets in the Southern U.S. benefitting from economic tailwinds with growth potential.
Forward-Looking Statements
Certain statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. The Company’s forward-looking statements are generally accompanied by words such as “intend,” “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “plan,” “goal” or other words that convey the uncertainty of future events or outcomes. Statements, among others, relating to the Company’s beliefs with respect to the Property’s positioning in the market and are forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company’s control. Certain factors, risks and uncertainties discussed under the caption “Risk Factors” and elsewhere in the Company’s filings available on the SEC’s website could cause actual results and performance in the future to differ materially from those set forth in or implied by such forward-looking statements.
Investor Relations Contact
Robyn Tannenbaum
561-510-2293
ir@thetcg.com
Media Contact
Profile Advisors
Rich Myers & Rachel Goun
347-774-1125
srt@profileadvisors.com
FAQ
What is the size of SUNS's commitment in The Bohéme financing deal?
How many units does The Bohéme apartment complex in Dallas have?
What is Kairoi Residential's track record in multifamily development?
What amenities does The Bohéme offer to residents?
