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Market Fundamentals Continue to Influence Purchases

LEWISVILLE, TX—Six multifamily properties in Texas received acquisition funding to the tune of nearly $107 million in Fannie Mae delegated underwriting and servicing loans, provided by Greystone.

By Lisa Brown | lisabrown | | Updated on August 04, 2016
Wimbledon Wimbledon Apartment Homes is conveniently located 1.5 miles west of Interstate 35.
LEWISVILLE, TX—With attractive market fundamentals persisting in the region, most specifically in the multifamily sector, funding continues to take advantage of current commercial real estate dynamics. Six multifamily properties in Texas received acquisition funding to the tune of nearly $107 million in Fannie Mae delegated underwriting and servicing loans. Greystone , a real estate lending, investment and advisory company, provided the loans which were originated for Intercapital Group of Chicago. Terms of the Fannie Mae loans included 10 years, 30-year amortization and three years of interest only.  The properties, which total 1711 residential units, include Wimbledon in Lewisville, TX; Greenwood Creek in Benbrook, TX; Catalina Apartments in Lewisville, TX; Summer Gate Apartments in Irving, TX; Oaks of Lewisville in Lewisville, TX and Parc Plaza Apartments in Euliss, TX. “We are pleased to have had the opportunity to leverage our deep Fannie Mae lending experience and knowledge of the Texas market on behalf of the borrower, and look forward to helping them continue to add value to their portfolio,” said Joe Mosley , executive managing director and head of agency lending at Greystone. One of the representative properties, Wimbledon Apartment Homes , is conveniently located 1.5 miles west of Interstate 35 and 2.5 miles north of Highway 121. It is within the Lewisville ISD School District. Retail and dining are only minutes away, as is Lake Lewisville with multiple boating and fishing activities available. Wimbledon showcases one- and two-bedroom floor plans. Many homes have been given a complete makeover to feature new kitchens and bathrooms with stainless steel and black appliances, custom oak cabinetry, hardwood flooring and modern lighting. Some apartments have entertainment alcoves, and stackable washers and dryers. Rob Russell , a Greystone managing director, originated the loans on behalf of Intercapital Group. Russell tells GlobeSt.com: “Intercapital Group was able to expand their portfolio with the acquisition of six quality greater Dallas multifamily properties, taking advantage of attractive market fundamentals in the region.”  

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