Bellwether Enterprise Real Estate Capital LLC, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, Inc., has announced the closing of a $59 million Fannie Mae Multifamily Affordable Housing loan deal for the acquisition of Broadstone 8 One Hundred, located at 8100 Anderson Mill Road in Austin, TX.
Kevin Bowen, executive vice president in Bellwether Enterprise’s Dallas office, originated the loan on behalf of the borrower.
Broadstone 8 One Hundred consists of 376 one- and two-bedroom units. At acquisition, the borrower restricted 50% of the units for tenants making 80% or less of area median income. The property includes amenities such as a clubhouse for residents with entertainment spaces, a 24/7 athletic center, an executive business center, a resort-style swimming pool and a dog park, among many others.