Berkadia Provides $47.2M Construction Loan for Metro Dallas Apartment Project
ALLEN, TEXAS — Berkadia has provided a $47.2 million HUD construction loan for Stacy Pointe Apartments, a 326-unit multifamily community in the northeastern Dallas suburb of Allen. The property will offer one- and two-bedroom floor plans and amenities such as a pool, fitness center, business center, media areas and coworking office space. Chad Bedwell of Berkadia secured the loan through HUD’s 221(d)(4) program on behalf of Texas-based Stacy Pointe Partners LP. The loan carried an 85 percent loan-to-cost structure.