AUSTIN APARTMENT COMMUNITY RECEIVES CONSTRUCTION FINANCING

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AUSTIN — Berkadia Commercial Mortgage originated $19.89 million in construction financing through its HUD/FHA program for Lotus Village Apartments, a 222-unit apartment community that will be located at 300 Ferguson Dr. in Austin. The community will consist of 10 three- or four-story buildings with an average 922 square feet per unit. Berkadia’s Steve Mentesana and Tim Nunan originated the 4.4 percent fixed interest loan on a 40-year term with a 40-year amortization schedule.

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