DALLAS–Steadfast Cos. received $15.2 in acquisition financing in order to purchase Mapleshade Park apartments. The 148-unit luxury apartment complex is located at 6606 Mapleshade Ln.
The 7-year loan was brokered Matt Greer, senior vice president in the Austin office of Berkadia Commercial Mortgage. The acquisition financing was secured through Berkadia's Freddie Mac program. It amortizes over 30 years with a 2.3% floating interest rate and three years of interest-only payments.
“Berkadia has a strong presence and background in the Texas market, and we tapped this expertise to identify the right loan product for the borrower,” Greer says. “We understood what Steadfast wanted to achieve with this project and leveraged our relationships at Freddie Mac to ensure that the borrower's needs were fully met.”
Mapleshade Park is 94% leased. On-site amenities include a business center, pool, clubhouse, and fitness center.
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