Fritz Waldvogel of Colliers Mortgage has closed a $32.9 million HUD loan for the new construction financing of Deer Park Apartments in Decatur, Texas.
Located in an Opportunity Zone, the 204-unit market-rate multifamily property features one-, two-, and three-bedroom Class A apartment units.
Project amenities include a 24-hour fitness center, business center, community room, swimming pool, parcel/mail center, billiards room, outdoor lounge area, outdoor grills, on-site management, and a dog park/run. Covered parking garage parking is also available.
The loan carries a 40-year term/amortization and was arranged through a partnership with Old Capital Lending for borrower, Deer Park Apts QOZB LLC.
