StoneHawk Inks $56M Construction Loan for Garland Apartments
Dwight Capital financed a $56 million HUD 221(d)(4) new construction loan for StoneHawk Rosehill, a planned 269-unit apartment community in Garland, TX. Situated on over seven acres, the property will consist of one- and two-bedroom residences, with approximately 51% of the units designated as income- and rent-restricted and the remaining units offered at market rates. StoneHawk Capital Partners is the developer/sponsor. StoneHawk has already completed The Olsen in Garland (photo)
Amenities will include a clubhouse with fitness and business facilities, an on-site leasing and management office, and outdoor recreation areas featuring a swimming pool and landscaped courtyard. This transaction was originated by Brandon Baksh and Brian Yee on behalf of the StoneHawk.
On its website, StoneHawk says it focuses on select markets experiencing strong job, population, and economic growth. Key factors are high barriers to entry and strong supply/ demand fundamentals.
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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