AUSTIN, TX-Lotus Village (Chinatown) Apartments LP has obtained roughly $19.9 million in financing to construct an apartment complex in East Austin. Pennsylvania-based Berkadia Commercial Mortgage LLC made the loan through a Department of Housing and Urban Development and Federal Housing Administration program.
The 40-year fixed-rate loan has a 4.4% interest rate. The 222-unit apartment project, known as Lotus Village Apartments, will be constructed at 300 Ferguson Drive and will contain 10 buildings. For the full story, go to Austin Business Journal .
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