HOUSTON (April 13, 2020) – Berkadia announces it has secured acquisition financing for the 211-unit Sunswept Townhomes in Houston, Texas. Senior Managing Director Mitch Sinberg of Berkadia’s Boca Raton office and Managing Director Brad Williamson of Berkadia’s Miami office secured the loan on behalf of One Real Estate Investment (OREI), a real estate investment and asset management firm based in Miami.
Berkadia originated and Freddie Mac purchased the 10-year, floating-rate loan with five years interest only.
“Due to the sponsor’s strong track record, we were able to secure a floating rate loan at an aggressive rate below 3 percent,” said Williamson. “Proceeds from the loan will be used to undertake a full property repositioning.”
Built in 1982, Sunswept Townhomes is located at 12247 Sunset Meadow Lane and features one-, two- and three-bedroom floor plans ranging from 745 square feet to 1,257 square feet.
Found within the Sam Houston Tollway – Houston’s middle loop – the community is located near several employment and entertainment centers. Downtown Houston is under 30 minutes away, offering access to Texas Southern University and the Toyota Center. The Texas Medical Center is approximately 20 minutes away, with NRG Stadium nearly adjacent.