FORT WORTH-Lincoln Property Co. has obtained a $32.75 million mortgage for The Berkeley, a 406-unit, class A apartment property here. The complex, located in the Berkeley neighborhood, is owned by the Dallas-based developer and a multifamily development fund operated by Sarofim Realty Advisors.

The 35-year, fixed-rate FHA 223(f) loan was funded through Metropolitan Funding Corp., a MAP (multifamily accelerated processing) lender. The proceeds will be used to retire the existing construction loan and to recapitalize the property, which was completed in 2008.  

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