W. Gardner Wallace Secures $67.7 Million Loan From Berkadia For Austin Multifamily Project

The asset involved in this transaction is Eleven by Windsor, a multifamily property located at 811 East 11th Street in Austin, Texas. This apartment community consists of 257 units and was built in 2014. The property is positioned in the Austin market and has secured a new loan to facilitate upcoming renovations.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $67,700,000
• Lender: Berkadia via Fannie Mae
• Landlord: W. Gardner Wallace - GID
• Previous Note: $33 million Nationwide note from 2016

This transaction is notable for involving GID, led by W. Gardner Wallace, who was the landlord in this deal. The financing provided by Berkadia via Fannie Mae aims to refinance the property, and the funds will be allocated for comprehensive renovations including interior, exterior, and waterproofing enhancements.