Berkadia announced the sale of and financing secured for Ladera, a 500-unit garden-style multifamily property located at 3901 Accent Drive in Dallas. Senior Managing Director Paul Harris, Managing Director Gregory Smith and Senior Directors Thad Wetterau and Eric Calub of Berkadia Dallas completed the sale on behalf of the seller, Texas-based WillMax Capital. The buyer was California-based Tides Equities, and the deal closed on January 25.

Managing Director Chris Pollard, also of Berkadia Dallas, secured $94.14 million in acquisition financing on behalf of the buyer. The three-year bridge loan financed through Starwood Property Trust features a 3.15 percent interest rate and a 30-year amortization schedule.

“This transaction came together at year end when the capital markets were incredibly busy and lenders had very little capacity,” said Pollard. “Starwood Property Trust came through with a great execution and were an invaluable partner in closing this transaction.”