Berkadia Originates $40.3M in Financing for Apartment Complexes in Metro Dallas, Houston

FORT WORTH and HOUSTON — Berkadia has originated $40.3 million in financing for two multifamily properties located in Fort Worth and Houston. The first transaction was a $29 million loan for Thornbury Apartments, which is located at 7055 Hollister Road in Houston. The seven-year, floating-rate loan includes three years of interest-only payments and a 30-year amortization schedule. The property consists of 408 one-, two- and three-bedroom units and was 96 percent occupied at the time of closing. The borrower was AHC Thornbury Owner LLC. The second transaction was an $11.3 million loan for The Retreat at River Ranch Apartments. The seven-year, floating-rate loan includes two years of interest-only payments and a 30-year amortization schedule. The property consists of 248 one- and two-bedroom units. The property is located at 4850 River Ranch Boulevard near Chisholm Trail Parkway and I-20 and was 94 percent occupied at the time of closing. Andy Hill of Berkadia’s Austin office secured both loans.