Loans

SAN ANTONIO — Pillar Financial, a division of SunTrust Bank, has provided a $13.4 million Fannie Mae loan for the acquisition of Avesta ICON Apartments, a 256-unit multifamily community located on San Antonio’s north side. The property, which was 93 percent occupied at the time of sale, was built in 1981 and renovated in 2015. Evan Hom of Pillar Financial originated the loan, which features a 15-year term, a fixed interest rate and five years of interest-only payments, on behalf of the Los Angeles-based borrower.  

MESQUITE, TEXAS — S2 Capital LLC, an investment firm specializing in Class B multifamily assets, has refinanced Forty200, a 512-unit multifamily community located in the eastern Dallas metro of Mesquite. The property offers one- and two-bedroom units and amenities including a fitness center, pool and tennis and basketball courts. The loan, the amount of which was not disclosed, features a fixed 4.2 percent interest rate, a 75 percent loan-to-value (LTV) ratio and four years of interest-only payments. Nathan Stone, Brad Mason and Guy Griffith of Berkadia secured the financing through Fannie Mae.

HOUSTON — Arbor Realty Trust Inc., a publicly traded REIT and direct lender, has secured a $35.9 million loan for the refinancing of Nottingham Village, a 317-unit apartment community in Houston. The garden-style property was built in two phases in 1971 and 1983 and offers a saltwater pool and on-site maintenance. Ronen Abergel of Arbor Realty Trust secured the loan, which features a fixed interest rate and a 35-year term, through the FHA 223(d) program. About $500,000 of the loan proceeds will go toward renovating the property’s interiors and electrical systems. The borrower was not disclosed.