Developers Score Financing for Frisco Mixed-Income Apartments
Stryker Properties and Griffon Capital Management teamed up to secure a $57 million construction loan for the development of Fremont Frisco Apartments, a 313-unit residential project in Frisco. Delivery is scheduled for mid-2028.
Multi-Housing News reports BridgeInvest provided the construction loan, with preferred equity coming from 25 Capital Partners. BBL Building Co. is the development’s general contractor.
The partnership will help secure affordable rents for some units. The property will reserve 45 percent of units for people making 80 percent of the area median income and five percent for those earning 60 percent AMI.
Plano, Texas-based Stryker Properties is a multifamily syndicator, while Corpus Christi-based Griffon Capital Management is a multifamily development specialist, having completed over 6,700 multifamily units nationwide. BridgeInvest targets middle-market commercial real estate loans with principal amounts between $10 million and $150 million.
Other News
Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
Learn more
80-Unit Seniors Housing Development Opens in Suburban Chicago
Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
Learn more
312-Unit Multifamily in Indiana Changes Hands
Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout