BRES, Advalurem Receive $60.5M Loan for Refinancing of Apartment Community in Metro Dallas
LEWISVILLE, TEXAS — A joint venture between real estate services firm BRES and New York-based investment firm Advalurem Group has received a $60.5 million Freddie Mac loan for the refinancing of Bella Madera, a 612-unit apartment community in the northern Dallas suburb of Lewisville. Bella Madera features one- and two-bedroom units and amenities such as a pool, fitness center, two dog parks, a volleyball court and a tanning studio. The Class A property was 97 percent occupied at the time of the loan closing. The loan was structured with a 10-year term and a sub-3 percent fixed interest rate. The lender was not disclosed.