DALLAS – January 28, 2021 – Berkadia today announced the financing secured for 27 Eleven Apartments, a midrise multifamily property located in Austin, Texas. Senior Director Chad Bedwell of Berkadia’s Dallas office completed the $69.5 million loan on behalf of the borrower, California-based Paydar Properties. The deal closed on December 17, 2020.
The 40-year HUD 221(D)4 loan, financed through HUD’s Mortgage Insurance Program, features an interest rate below three percent and will achieve the National Green Building Standard green building certification upon completion.
Located at 2711 W Anderson Lane, 27 Eleven Apartments features 19 floorplans consisting of studio, one- and two-bedroom units and commercial retail space on the ground floor. Community amenities include two courtyards, a club and lounge space, a swimming pool and a fitness center. Residents are afforded convenient access to the shops and restaurants along W Anderson Lane and Texas State Highway Loop 1 in the north central portion of Austin.
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