January 14, 2021
Bellwether Enterprise Real Estate Capital LLC, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc., recently closed three loans totaling $56,850,000 for affordable multifamily housing communities in Austin and San Antonio, TX and Fayetteville, AR.
Phil Melton, national director of affordable and FHA production in Bellwether Enterprise’s Dallas, office, originated both loans in Texas. Melton and Cindy Hannon, SVP in the Atlanta office, originated the loan in Arkansas.
The deals are:
• Waters at Bluff Springs (Austin), a $33,938,000 Freddie Mac Targeted Affordable Housing (TAH) refinance loan for a mixed-income property located at 7707 South IH-35 Frontage Road.
• Waters at Elm Creek (San Antonio), an $18,592,000 Freddie Mac TAH refinance loan for a mixed-income property at 11910 Orsinger Ln.
• Highpoint Apartments (Fayetteville), a $4,320,000 Freddie Mac refinance loan for an 88-unit Section 8 multifamily housing property located at 1101 Curtis Ave.
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