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Berkeley Point Provides $20.5M Bridge Loan for Apartment Asset in Metro Dallas

Broadway-Apartments-Garland-Texas

Exponential Property Group, the owner of Broadway Apartments in Garland, will use the loan to upgrade the property's units and common areas.

GARLAND, TEXAS — Maryland-based Berkeley Point Capital has provided a $20.5 bridge loan for Broadway Apartments, a 288-unit multifamily asset located in the northeastern Dallas metro of Garland. Built in 1982, the pet-friendly community offers one- and two-bedroom units, as well as two pools and a fitness center. Proceeds from the loan will fund renovations to the property’s common areas, landscaping and amenity spaces, as well as its unit interiors and exteriors. New York-based Bedrock Capital arranged the loan on behalf of the borrower, Exponential Property Group.

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