DALLAS – March 2, 2018 – Berkadia announced today the financing for Forty200, a multifamily property in Mesquite, Texas. Managing Director Nathan Stone, Associate Director Brad Mason and Analyst Guy Griffith of the Dallas office secured the financing through Fannie Mae for Texas-based S2 Capital, LLC.
This cash-out refinancing loan features a 4.2 percent fixed interest rate, a 75 percent loan-to-value ratio and four-years of interest only followed by a 30-year amortization schedule.
“S2 Capital did a great job renovating the property and created tremendous value in the process. We felt very comfortable with this cash-out loan due to the quality of the sponsorship, location and asset,” said Stone.
The 512-unit property is located at 4200 E Highway 80, affording convenient access to Interstate Route 635 and U.S. Route 80. The one and two-bedroom floor plans feature in-unit washers and dryers, walk-in closets and wood burning fireplaces. Residents can enjoy community amenities, such as a fitness center, a swimming pool, a tennis court and basketball courts.