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HOUSTON AND SAN ANTONIO — Berkadia Commercial Mortgage LLC's Austin office has closed a portfolio of loans totaling $56.5 million in financing for four multifamily properties in metro Houston and San Antonio. Brant Smith of Berkadia arranged the financing through the firm's Freddie Mac program on behalf of the borrower, Concierge Asset Management. The four transactions include:
- A $20.5 million, seven-year loan with a 30-year amortization schedule for the 656-unit Aberdeen Apartments, located at 3400 Woodchase Drive in southwest Houston.
- A $9.5 million loan for the 324-unit El Dorado Ranch Apartments, located at 265 El Dorado Ranch Apartments in Webster, a Houston suburb. The 10-year loan amortizes over 30 years.
- A $12 million, seven-year loan for the 333-unit Sable Ridge Apartments, located at 330 Kitty Hawk Road in Universal City. The loan amortizes over 30 years.
- A $14.5 million, 10-year loan for the 208-unit Sunrise Canyon Apartments, located at 502 Sunrise Canyon Drive in Universal City. The loan amortizes over 30 years.