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Texas  + Dallas-Fort Worth  + Apartments  | 

Berkadia Completes Sale and Secures $94.1M Financing for Multifamily Prop. in Dallas

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.”

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About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

  • ◦Lease
  • ◦Sale/Acquisition
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