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Berkeley Point Provides $47.2M Construction Loan for Dallas Area Apartments

Tower-Bay-Lofts-Lewisville-Texas

Tower Bay Lofts will be located in Lewisville, a northern suburb of Dallas. Delivery is currently scheduled for mid-2020.

LEWISVILLE, TEXAS — Berkeley Point Capital, a multifamily finance firm with 11 offices throughout the country, has provided a $47.2 million loan for the construction of Tower Bay Lofts, a 308-unit apartment project being developed in the northern Dallas metro of Lewisville. The loan features a fixed 3.78 percent interest rate and a 40-year, fully amortized permanent term. Tom White of Berkeley Point secured the financing through the FHA’s 221(d)(4) program on behalf of the developer, Wittington Holdings. The project team broke ground in mid-April and expects to deliver the building in about 24 months.

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