Berkeley Point Capital provides $63M in multifamily financing
Multifamily capital provider Berkeley Point Capital recently provided $63 million in acquisition financing for three apartment communities on the northwest side of Houston.
The move comes at a time when multifamily demand is expected to grow, and analysts within the industry cite a dire need for more revamped communities to serve middle-class renters.
The communities nabbed by Berkeley Point Capital include Carrington Place, Carrington at Champion Forest and Carrington Park at Huffmeister.
The financing came in the form of a ten-year, adjustable rate loan under Fannie Mae’s DUS multifamily program for each property.
The Irvine, Calif.-based Steadfast Income REIT is the sponsor. The REIT owns 58 apartment communities across 11 Midwestern and Southern states.