Greysteel’s Doug Banerjee headed up a team that worked on behalf of the seller to find a buyer for Wright Senior Apartments, a 154-unit partially affordable senior housing community in Grand Prairie, Dallas. Multi-Housing News reported that BLDG Partners assumed the outstanding balance of an $11.9 million HUD 223(f) loan with 35 year term and 2.45 percent interest rate; preserving affordability through Low-Income Housing Tax Credits LURA as part of their agreement.
The complex consists of 123 rent restricted affordable units and 31 market rate apartments designated for residents aged 62 or over; all featuring private balconies or patios within buildings ranging from 528 to 925 square feet in size completed back in 2004. Amenities include fitness center, swimming pool, clubhouse, elevator access and two laundry facilities with approximately 300 parking spaces available too!
