DALLAS — Pillar has originated a $9.4 million acquisition loan for Villa Bonita Apartments, a 232-unit multifamily community in Dallas. Built in 1969, the property features both affordable and market-rate apartment units. The complex consists of 20 two-story buildings and features amenities such as a playground and laundry facility. The asset was fully occupied at the time of financing. Evan Hom of Pillar’s New York office arranged the fixed-rate, Fannie Mae loan with a 30-year amortization schedule on behalf of the borrower, California-based BRC Bellaire Holdings LLC.The sponsor and its affiliates own several properties in the Dallas/Fort Worth area. The seller was a New Jersey-based investor. Al Silva of Marcus & Millichap listed the property on behalf of the seller and procured the buyer.
Villa Bonita consists of 20 building that are composed of flat roofs with brick veneer, stucco exteriors and wood frames on concrete slab foundations.
Pillar Provides $9.4M Fannie Mae Loan for Apartment Community in Dallas
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