Johnson Capital Obtains Loan for 229-Unit Shenandoah Rental Community
Johnson Capital Multifamily, LLC (JCM) closed an FHA-insured construction-to-permanent loan for The WoodLofts, a 229-unit luxury multifamily community in Shenandoah, Texas. A joint venture between Buckhead Investment Partners, Inc. and Juniper Investment Group is developing the WoodLofts.
Financed through FHA’s 221(d)(4) multifamily mortgage insurance program, the non-recourse loan carries a 40-year fully amortizing term with a fixed interest rate of 5.55%. The structure combines both construction and permanent financing into a single, assumable package.
Situated on a fully entitled, 3.2-acre site, the four-story, wood-frame development wraps a 376-space structured parking garage and features 229 studio, one-, two-, and three-bedroom units. It will include private balconies or patios, as well as dog yards available.
Community amenities include a clubhouse and leasing center, a resort-style pool, a state-of-the-art fitness center, a package concierge, a cybercafé, a media room, a dog park and grooming station, elevators, and an outdoor kitchen.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout