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3/13/17
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Southlake, TX-based Integrated Real Estate Group recently obtained $37 mil in Fannie Mae DUS® refinancing on Enclave at Westport, a 339-unit, Class A multifamily community in the Dallas / Fort Worth Metroplex area. The property is located at 13524 Alta Vista Rd, off Hwy 170 with DFW airport only 15 minutes away.
The community provides a number of amenities including resort-style pool with tanning deck, clubhouse, fitness center, outdoor lounge with fire pit, grilling areas, and entertainment lounge with access to media and games. Individual units are available in one-, two- or three-bedroom floorplans and feature wood plank flooring throughout and ceiling fans in the bedrooms and living area.
Greystone’s Cary Tremper and Scott Kavel originated the 10-year, non-recourse ARM loan. It features three years of interest-only payments and a 30-year amortization. Construction of the multifamily property was completed in 2016. The Fannie Mae Near-Stabilization loan provides a permanent financing exit from the construction loan.
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