10
Denton, Texas — Berkadia has arranged approximately $132 million in loans through its newly launched construction-to-permanent financing program. The loan proceeds will fund building and mortgage costs of Jefferson Bonnie Brae, an affordable housing development in the Dallas suburb of Denton. JPI is the merchant developer.
When complete, the project will be solely owned by the Denton Housing Authority. Senior Managing Director Tim Leonhard of Berkadia Affordable Housing arranged the financing. The property will include 461 units, half of which will be reserved for families earning no more than 80 percent of area median income. A construction timeline was not disclosed.