Berkadia provided the financing for District 42 Apartments, a 215-unit midrise multifamily property in Sioux City, Iowa.
Managing Director Nick Nicholson of Berkadia HUD/FHA arranged $20.016 million in permanent refinancing on behalf of the borrower, South Dakota-based Talon Development. The deal closed on Dec. 8.
The 35-year loan was financed through FHA/HUD’s Section 223(f) program.
Located at 5800 Sunnybrook Plaza, District 42 Apartments features studio, one-, two- and three-bedroom floorplans with in-unit washers and dryers. Community amenities include a fitness center, a swimming pool, a community room, a dog park and reservable guest suites. Residents are afforded convenient access to nearby Whispering Creek Golf Club, Western Iowa Tech Community College and shops and restaurants along US Highway 75.
