DALLAS-With its construction loan nearing maturity, Trinity Loft has obtained a $10.6-million permanent loan through Freddie Mac.
The mixed-use property, which consists of 93 units of class A apartments and 28,000-square-feet of ground-floor retail, is owned by a joint venture comprised of Alpha-Barnes Real Estate Services and the Jim Lake Cos. It is located at 1403 Slocum in the city’s Design District along Stemmons Freeway and is within walking distance to the Victory Park development and the American Airlines Center.
The new securitized loan has a fixed-rate at sub 5% and a seven-year term, according to John Brownlee, a senior managing director at HFF’s local office. He and Mike Ostella, a senior real estate analyst with HFF, secured the loan. HFF will service the loan through their Freddie Mac Program Plus
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