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Berkadia Arranges Deal for Garden Apartments in Dallas
Berkadia arranged the sale of, and secured financing for, Plum Meadow, a 270-unit garden-style multifamily property in Dallas. Thomas Burns, Jay Gunn and William Jarnagin, all of Berkadia’s Dallas office, completed the sale on behalf of the New York-based seller, an affiliate of Iliad Realty Group. The buyer was EB Real Estate Group, also based in New York.
Josh Finley of Berkadia’s Atlanta office secured the acquisition financing through Freddie Mac. The 10-year loan features three years of interest-only payments and a 30-year amortization schedule.
“EB Real Estate Group again continues their expansion in the Dallas-Fort Worth market with a total of over 1,600 units now under their ownership with the closing of Plum Meadow,” said Finley. “Building upon an established financing relationship with Berkadia, EB was able to secure long-term, floating-rate debt with competitive terms, and thus aid in the success of their investment objectives.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition
