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Texas  + Finance  |  February 9, 2021
Paul Bubny
By: Paul Bubny

North Texas Multifamily Set to Rebound in 2021

Continued corporate relocations and positive in-migration in the local multifamily market will mirror that of a rebounding labor market in the next four quarters, says Berkadia’s Jay Gunn. A Berkadia team recently completed the sale and financing on Stewart Creek Apartments, a 414-unit garden-style community in Frisco.

“Additionally, we’re anticipating absorption to slightly exceed deliveries this year, making Dallas one of the most favorable markets for investors in the Sunbelt,” says Gunn.

He, along with Thomas Burns and Will Jarnagin of Berkadia’s Dallas office listed the property on behalf of Univesco Inc., a real estate investment firm based in Plano. Jason Rice and Chris Pollard of Berkadia’s Dallas office arranged the financing on behalf of sponsor, Madera Residential, a real estate investment firm based in Lubbock. Varde Mortgage Capital originated the three-year floating-rate loan at 80% LTC.

Built in 1999, Stewart Creek is located at 7549 Stonebrook Parkway.

For comments, questions or concerns, please contact Lisa Brown

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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