Will Blodgett Of Tredway Acquires 16-Property Affordable Housing Portfolio In Texas For $65.5M

A 16-property, 1,200-unit affordable housing portfolio was sold for $65,500,000 across various markets in Texas, including Alamo, Amarillo, Brownsville, Copperas Cove, El Paso, Fort Worth, Lampasas, Lubbock, Odessa, San Juan, Santa Rosa, and Victoria. The package deal will maintain long-term affordability through Project-Based Section 8 contracts.

Summary of transaction details:

• Property Type: Package Deal
• Transaction Amount: $65,500,000
• Buyer: Will Blodgett - Tredway
• Lender: Fannie Mae
• Mortgage Broker: Berkadia

Tredway plans to invest over $10,000,000 in capital improvements for the portfolio. They will collaborate with Housing Services Incorporated to provide resident support and have selected Asset Living to manage the portfolio, with financing through bridge and Fannie Mae loans arranged by Berkadia.