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Mason Joseph Closes $29.5M HUD Construction Loan for 256-Unit Apartment Community in Bryan

BRYAN, TEXAS — Mason Joseph Co. Inc. has closed a $29.5 million loan for the construction and permanent financing of The Residence at Oakmont, a 256-unit apartment community in Bryan. Parkcrest Builders Ltd. and Parkgreen Living LLC will develop the Class A, garden-style community, which will be located at the intersection of Boonville Road and Pendleton Drive. HUD provided the non-recourse loan, which offers a fixed interest rate for the 18-month construction period and subsequent 40-year term.

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