Lightstone Capital Provides $28.5M Loan for Refinancing of Dallas Apartment Community
DALLAS — New York City-based Lightstone Capital has provided a $28.5 million loan for the refinancing of The Azul Apartments, a 362-unit multifamily community located in the Lake Highlands area of Dallas. Built on 9.3 acres in 1983, the property comprises 324 one-bedroom units and 34 two-bedroom units across 20 three-story buildings. About 35 percent (130) of the units have been recently renovated. Amenities include multiple pools, a business center, clubhouse and a dog park. Thomas Wayda, Dan Sacks and Harrison Drucker of Greystone arranged the loan. The borrower was an entity doing business as Azul Multifamily DE LLC.