AUSTIN, TX-Berkadia Commercial Mortgage has closed an interim financing worth $9.9 million for Mosaic Residential Inc. to purchase and refurbish the Bristol Square Apartments, a 336-unit apartment complex located on Douglas Street in Austin. The Austin deal was part of the sale of a 15-property portfolio for a total price of over $157 million.
The other assets are located in Beaumont, Texarkana, Pleasant Grove, Temple and Marlandwood. The renovations include common-area improvements and interior upgrades. For the full story, go to Austin Business Journal .
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