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$12M Loan Secured for Maple Gardens Buy

DALLAS-Berkeley Point, working on behalf of Baron Properties and ANICO, structured Fannie Mae financing for acquisition of the 120-unit, class A multifamily complex.

By Amy Wolff Sorter | Updated on August 05, 2013

DALLAS-Berkeley Point Capital secured acquisition financing for the 120-unit Maple Gardens. Working on behalf of buyers Baron Properties of Greenwood, CO and its partner American National Insurance Co., Berkely Point arranged for $12.5 million in financing under Fannie Mae’s DUS program.

Specifically, the loan for the complex at 5219 Maple Ave. offers a 10-year deal term with two years of interst only at a fixed rate of 4.33% and a 30-year amortization. The project was completed in 2011 and, according to the Dallas Central Appraisal District, the seller was Maple Gardens LP of Dallas.

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