HOUSTON—Although multifamily builders will continue to scale back deliveries this year to move supply and demandcloser to equilibrium, one development bucks that trend and thefinal investment moves the project forward. The final piece of the$18 million capitalization for the Edge at Langham Creek, a115-unit multifamily property, is now in place. MidHudson was theequity provider.
Berkadia arranged $1.75 million in preferred equity for thefinal construction financing. Associate director H. Mark Crosswelland analyst Eric Kline of Berkadia's Houston office arranged thepreferred equity financing on behalf of HS Development.
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