$22M Loan Spurs Anatole on Briarwood Acquisition

Olympus Property acquired $21.8 million in financing to assist with the acquisition of the 250-unit Anatole on Briarwood, an apartment complex in Midland, TX. Berkadia’s Tucker Knight and Nicholas Murphy arranged for the 10-year, fixed-rate, five-year-interest-only Freddie Mac loan.

Lewisville, TX-based NT Anatole on Briarwood LP sold the property, which is at 5200 Briarwood Ave. Anatole on Briarwood opened in 2014, and offers one, two-and three-bedroom units. On-site amenities include business and fitness centers, clubhouse, coffee bar, television lounge and swimming pool.

Murphy said that stable energy prices is leading to strong multifamily fundamentals. “In addition, due to the sponsor’s success on two previous transactions in this market, Freddie was able to provide a long term fixed-rate solution that was accretive to the borrower,” he added.

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