Consistent Returns Ahead for DFW Multifamily Portfolios
Financing of $55.1 million was arranged for the acquisition of Residences at Northgate, a 320-unit multifamily community in Irving, and Arbor Creek, a 280-unit multifamily community in Lewisville. Berkadia originated and Freddie Mac purchased a $28.4 million loan for Residences at Northgate and a $26.798 million loan for Arbor Creek.
Mitch Sinberg of Berkadia’s Boca Raton office and Brad Williamson of Berkadia’s Miami office secured the financing on behalf of Eagle Property Capital, a real estate investment firm based in Miami. Both properties were financed with 10-year floating rate loans with five years IO.
“Demonstrating recent year-over-year growth in household formation and a rise in the metro area’s population, Dallas continues to maintain its status as a highly suitable investment market within the competitive Sunbelt region,” said Sinberg. “After evaluating these fundamentals and anticipating a rebounding labor market, value-add investors can expect increased demand to come up throughout the metro area and provide consistent returns to any portfolio.”
Residences at Northgate was built in 1983 and is located at 4310 W. Northgate Dr. Arbor Creek was built in 1984 and is located at 396 E. Southwest Pkwy.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.