Berkadia Secures $51.4M Loan for 423-Unit Multifamily Property in Lewisville | REBusiness Online
DALLAS – August 2, 2017 – Berkadia today announced that its recently negotiated $51.38 million in financing for Discovery at the Realm, a multifamily property in Lewisville, Texas. Managing Director Joe Hevey and Associate Director Brady Meyer of the Dallas office secured the refinancing loan through Berkadia’s Fannie Mae program. The deal closed on July 17.
The 10-year loan features a 4.19 percent fixed interest rate. The borrower was Bright Realty, LLC, based in Dallas.
“We were pleased for the opportunity to work with Bright Realty and secure this loan,” Hevey said. “This is a fantastic property in a thriving market, and our team’s efficiency allowed us to deliver the very best loan terms.”
Discovery at the Realm, located at 3600 Windhaven Parkway, offers studio, one- and two-bedroom units. Amenities include dishwashers, garbage disposals, double vanities, granite countertops, high ceilings, large closet space, ceiling fans and washer and dryer hookups. Residents also enjoy community features such as full-time on-site patrol, barbeque and picnic areas, a business center and conference room, a coffee bar, a lake with beaches and piers, on-site maintenance and management, a yoga studio and resort-style social programming, activities and events occurring weekly. Conveniently located along the Sam Rayburn Tollway, the property offers fast access to downtown Lewisville and into the Dallas-Ft. Worth area.