2018


Mason Joseph Company completed the closing of a $18,005,300 loan for the construction and permanent financing of Lakeside Villas, a 152-unit mid-rise market-rate apartment community in Midlothian, Texas.  The apartment will offer 152-units spread over 11, 2-story garden-style apartment buildings with Class A furnishings & amenities. The property will feature a professional fitness center, dog park, a community gathering space, and a business center.    


The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 23-month construction period and a subsequent 40-year term. 


The project is being developed by MacDonald and Associates, Inc., a privately held regional multifamily development and investment firm. GG MacDonald Inc., will serve as the project’s general contractor and MacDonald Property Management, LLC will serve as the management agent.  

Mason Joseph Company, Inc. announced the closing of a $26,391,500 loan for the construction and permanent financing of Flats at ShadowGlen, a proposed 248-unit market-rate apartment community at the intersection of Shadowglen Trace and FM 973 in Manor, Texas.  The apartment will offer 248-units spread over 11 residential 3 and 2-story garden-style apartment buildings with Class A furnishings & amenities.


The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 18-month construction period and a subsequent 40-year term. 


The project will be owned Dwyer Development with RightQuest, LLC serving as the development consultant.  Cross Architects designed the project, and Journeyman Construction will serve as the project’s general contractor. 


Mason Joseph Company, Inc., a San Antonio & Fort Worth based FHA multifamily lender, announced the closing of a $42,492,300 loan for the construction and permanent financing of Aspire at Preston Trails, a proposed 299-unit market-rate apartment community at the intersection of FM 1382 and Straus Road in Cedar Hill, Texas. The apartment will offer 299-units spread over 9 three-and-four-story garden-style apartment buildings with Class A furnishings & amenities. 

The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 22-month construction period and a subsequent 40-year term. The project is being developed by Covenant Development, LLC., & Stewart Resdiential, LLC.; both privately held regional multifamily development and investment firms. The project was designed by Humphrey’s & Partners Architects, and Jordan Foster Construction will serve as the project’s general contractor. 


Mason Joseph Company, Inc., has arranged the refinancing of The Reserve at Lone Oak, a $14,850,600 loan for a 200-unit apartment community in San Antonio, Texas. The Reserve at Lone Oak is located at 20005 Liedecke Road near the Loop 1604 and Interstate Highway 37 interchange near the southern border of Bexar County.  

The financing was secured through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Using the program enabled the developer, Resolution Real Estate, Inc. of Houston, Texas, to secure a low-rate, non-recourse loan that is fixed for 35 years.

The project is managed by MacDonald Property Management, LLC of Kerrville, Texas, and will offer 200 units spread over thirteen 2-story, garden style, walk-up residential buildings, and a clubhouse. 

Mason Joseph Company completed the closing of a $27,133,800 loan for the construction and permanent financing of Forest Pines, a proposed 240-unit market-rate apartment community located at 897 N Harvey Mitchell Pkwy, Bryan, Texas. The apartment community will offer 182-units consisting of seven two and three-story garden-style apartment buildings with Class A furnishings and amenities. The property features a community building with a fitness center, entertainment area, full-size kitchen, and business center.

The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. This program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 20-month construction period and a subsequent 40-year term. The project is being developed by David Hendricks; a multifamily developer located in Houston, Texas. Strategic Construction will serve as the project’s general contractor and Myan Management will serve as the management agent. 

MJC closed a $20,710,400 loan for the construction and permanent financing of Springs Apartments, an up-and-coming 221-unit affordable apartment community located on Ambassador Way in Balch Springs, Texas.  The project will consist of one four-story “corridor style” apartment building, with Class A amenities and furnishings.  Additional community features include a pool, playground, business center, a conference room, 2 community rooms with kitchens, three laundry areas, a wellness area, rentable storage areas, and a library. 

The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 20-month construction period and the subsequent 40-year term.

The project is being developed with equity provided by Low Income Housing Tax Credits (LIHTC) from Boston Financial Investment Management, LP.  The lead development sponsor is Louisville based, LDG Multifamily, LLC. LDG is a successful developer of affordable and market-rate multifamily housing across the United States.  LDG is focused on ensuring the preservation of quality, affordable housing opportunities for low to moderate income families in Balch Springs.  Louisville based, Xpert Design and Construction, LLC and Indiana based, Weber Group, Inc. will serve as the project’s general contractor through a joint venture.  Capstone Real Estate Services, Inc. will serve as the management agent.  

MJC closed a $40,450,000 loan for the construction and permanent financing of McKinney Falls, a to-be-built 312-unit affordable apartment community in Austin, Texas. The property features a fitness center, business center, clubroom, conference room, and children’s activity center.

The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 18-month construction period and a subsequent 40-year term.

The project is being developed in a public/private partnership with equity provided by Low Income Housing Tax Credits (LIHTC) from City Real Estates Advisors (CREA).  The development is a collaboration between the Travis County Housing Finance Corporation and AMTEX Multi-Housing, LLC. AMTEX is a successful developer of affordable and market rate multifamily housing.  AMTEX Construction, LLC, and Austin based, TCC Hill Country Development Corporation will serve as the project’s general contractor through a joint venture.  UAH Property Management, LP, will serve as the management agent. 

Mason Joseph Company completed the closing of a $35.9 million acquisition/rehab loan for the 314-unit, 1111 Blalock Apartments in Houston, Texas. The financing was secured through the U.S Department of Housing and Urban Development's 223(f) mortgage loan insurance program.

Using the program enabled the borrower to secure a low-rate, non-recourse acquisition loan that is fixed for 30 years while also providing significant rehabilitation proceeds.  When the rehabilitation is complete, the project will have complete new interiors, doors, windows, the addition of numerous outdoor and community amenities as well as an energy efficient Green Energy certification.  1111 Blalock Apartments is located in one of the most sought-after sub-markets in the Greater Houston Area; Memorial/Spring Branch. This area is consistently mentioned as one of the "hottest neighborhoods" in the Houston area and experiences extensive growth in residential and commercial projects.

2017

MJC closed a $38,417,000 loan for the construction and permanent financing of the Commons at Goodnight Apartments, a to-be-built 304-unit affordable apartment community on East Slaughter Lane in Austin, Texas. The development will consist of one three-story primary building, along with seven smaller residential three-story buildings, and one community center amenity building. The apartment community will offer residents a library, a community event room with a fully equipped kitchen, and other attractive amenities.


The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 24-month construction period and the subsequent 40-year term.


The project is being developed in a public/private partnership with equity provided by Low Income Housing Tax Credits (LIHTC) from Boston Financial Investment Management, LP. The development is a collaboration between the Austin Affordable Housing Corporation (AAHC) and Louisville based, LDG Multifamily, LLC. The partnership has fostered an ability to ensure and preserve quality affordable housing opportunities for low to moderate income families in Austin. Louisville based, Xpert Design and Construction, LLC and Indiana based, Weber Group, Inc. will serve as the project’s general contractor through a joint venture. Capstone Real Estate Services, Inc. will serve as the management agent. For more information, contact Randy Mason at (210) 402-6161.

Mason Joseph Company, Inc. completed the closing of a $32,270,000 loan for the construction and permanent financing of the Bridge at Cameron Apartments, a proposed 263-unit affordable apartment community on Cameron Road in Austin, Texas. The development consists of one four-story, mid-rise, "corridor style" apartment building with Class A furnishings and amenities.  This area of Austin is undergoing considerable reinvestment and has been the beneficiary of a significant amount of new development. 


The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 21-month construction period and the subsequent 40-year term. 


The project is being developed in a public/private partnership with equity provided by Low Income Housing Tax Credits (LIHTC) from R4 Capital, LLC. The development is a collaboration between the Austin Affordable Housing Corporation (AAHC) and Louisville based, LDG Multifamily, LLC. The partnership has fostered an ability to ensure and preserve quality, affordable housing opportunities for low to moderate income families in Austin. Louisville based, Xpert Design and Construction, LLC and Indiana based, Weber Group, Inc. will serve as the project’s general contractor through a joint venture. Capstone Real Estate Services, Inc. will serve as the management agent. For more information, contact Randy Mason at (210) 402-6161.

Mason Joseph Company completed the closing of a $21.8 million loan for the construction and permanent financing of Hunters Crossing Apartments, a new 182-unit market-rate apartment community located on the southwest corner of State Highway 304 and Home Depot Way in Bastrop, Texas. The apartment community will offer 182-units consisting of seven two and three-story garden-style apartment buildings with Class A furnishings and amenities.


The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. This program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 24-month construction period and a subsequent 40-year term. The project is being developed by Mr. Howard Schain, a multifamily developer and investor. White Conlee Builders, Ltd. will serve as the project’s general contractor and Capstone Real Estate Services, Inc., will serve as the management agent.

Mason Joseph Company completed the closing of a $4.7 million loan for the permanent financing of the 100- unit Affordable Senior Community, Park Meadows Apartments in Boerne, Texas. The financing was secured through the U.S. Department of Housing and Urban Development’s 223(f) mortgage loan insurance program.


Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for 35 years. Park Meadows Apartments is located on 13.132 acres one mile from the intersection of West Bandera Road and IH-10. The apartment complex offers 100 units spread over 25 single-story four plex buildings and a community building. The project was refinanced and is managed by MacDonald Companies of Kerrville, Texas.

Mason Joseph Company has arranged the refinancing of Mariposa Gardens, a 66-unit affordable apartment community in Mathis, Texas. The $1.265 million mortgage was secured through the U.S. Department of Housing and Urban Development's 223(f) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for 35 years. Mariposa Gardens is owned by Mathis DMA Housing, LP.

MJC completed the closing of a $41,897,500 loan for the construction and permanent financing of Brewery South, a 223-unit mid-rise market-rate apartment community on Newell Avenue in San Antonio, Texas. The development consists of a four story, Class-A multifamily development with a single level subterranean garage.  The project is located in a highly desirable location on the San Antonio Riverwalk and within the Pearl Brewery redevelopment in downtown San Antonio.


The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 23-month construction period and a subsequent 40-year term.


The project is being developed by Silver Ventures, a privately held regional multifamily and commercial development and investment firm. Oden Hughes Taylor Construction will serve as the project’s general contractor and Embrey Management Services will serve as the management agent.

Mason Joseph Company completed the closing of a $12.1 million loan for the permanent financing of the 184-unit, Gleneagles Apartments in Lexington, Kentucky. The financing was secured through the U.S. Department of Housing and Urban Development's 223(f) loan insurance program and Low Income Housing Tax Credit Bonds.  


Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for 35 years. Gleneagles Apartments are located on a highly visible intersection at Man O War and Polo Club Boulevard in Lexington, Kentucky.  The apartment offers 184 units spread over 7.29 acres that consists of eight, three-story walk-up garden style residential buildings and a clubhouse. The project was refinanced by LDG Development, LLC. 

Mason Joseph Company, Inc., a San Antonio based FHA multifamily lender, announced the closing of a $37 million loan for the construction and permanent financing of Discovery Park Apartments, a 283-unit market-rate apartment community to be located at the intersection of North Elm Street and Riney Road in Denton, Texas.  The development will be located directly across from a 290-acre public/private research campus occupied by the University of North Texas College of Engineering.  


The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program.  Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 24-month construction period and a subsequent 40-year term. The apartment will offer 283-units spread over five buildings, three and four-story garden-style apartment buildings with elevators and Class A furnishings and amenities.


The project is being developed by NE Development, a regional multifamily development company that has spent three decades in fulfilling its mission to provide affordable, sustainable, and mixed-use multifamily developments throughout the southwestern United States.  N.E. Construction, LLP will serve as the project’s general contractor and NE Property Management, LLC will serve as the management agent.

Mason Joseph Company arranged the refinancing of Delta Estates Apartments, providing a $1.8 million loan for the 64-unit affordable apartment community located in Edcouch, Texas. The financing was secured through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Using the program enabled the borrower to secure a low, fixed-rate, non-recourse loan for 35 years. The apartments offer 64 units spread over 16, 1-and 2-story, walk-up, residential buildings and a clubhouse.  The property is operated by South Texas Economic Development Corporation.   

MJC completed the closing of a $20,157,600 loan for the construction and permanent financing of Plum Creek Vue, a 180-unit market-rate apartment community at the intersection of Cromwell and Dorman Drive in Kyle, Texas. The development is part of a highly desirable master-planned community and has expansive golf course views while being located 20 minutes south of downtown Austin. 


The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 15-month construction period and a subsequent 40-year term.


The apartment will offer 180-units spread over 7, three story garden-style apartment buildings with Class A furnishings & amenities. The property is being developed by Sundance Developers, a privately held regional multifamily development and investment firm. Blazer Building Texas will serve as the property’s general contractor and Greystar Real Estate Services will serve as the management agent. 

Mason Joseph Company completed  the closing of a $29,484,900 loan for the construction and permanent financing of The Residences at Oakmont, a  256-unit market-rate apartment community at the intersection of Boonville and Pendleton Dr. in Bryan, Texas. The apartment will offer 256-units spread over 9, 3-story garden-style apartment buildings with Class A furnishings & amenities. 


The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 18-month construction period and a subsequent 40-year term. 


The project is being developed by Parkcrest Builders Ltd. and Parkgreen Living, LLC, both privately held regional multifamily development and investment firms. Stewart Residential, LLC will serve as the project’s general contractor and Residence Property Company, Ltd will serve as the management agent. 

Mason Joseph Company arranged the refinancing of The Residence at Lake Jackson. The $28 million loan provided improvement proceeds whereby the owner will renovate and upgrade the units, achieve a Green Energy Certification, and add an outdoor gazebo with fireplaces and grills as well as a new 2,000 sf state-of-the-art fitness center building. The Residence at Lake Jackson was built in 2009 and 2013 and is located on Loop 332 a major east/west arterial in Lake Jackson. The apartment offers 248 units spread over 16, 3-story, walk-up,residential buildings and a clubhouse. The financing was secured through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for 35 years, in addition to the rehabilitation proceeds. The project is owned and operated by Stewart Residential, LLC and Parkcrest Builders, Ltd. will serve as the GC for the rehab and improvements. 

Mason Joseph Company arranged the refinancing of Villas at Henderson Apartments, a $7.3 million loan for the 140-unit apartment community in Cleburne, Texas. Villas at Henderson Apartments is located one block from the main artery of Cleburne, Business US 67.  The apartments offer 140 units spread over 9, 1 and 2-story, walk-up, residential buildings and a clubhouse. The financing was secured through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for 35 years. The project is owned and operated by MacDonald Companies.   

Villas at Eastwood Terrace

MJC arranged the refinancing of Villas of Eastwood Terrace, a $9.2 million loan for 160-unit affordable apartment community in Fort Worth, Texas. Villas of Eastwood Terrace is located in southeast Fort Worth and offers 160 units spread over 40 single-story, walk-up, residential buildings and a clubhouse. The financing was secured through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for 35 years. The project was refinanced by Fort Worth Housing Solutions.

Mason Joseph Company completed the closing of a $12,103,700 loan for the construction and permanent financing of The Lodge at the Guadalupe, a 124-unit market-rate apartment community at 1355 Ranch Parkway, New Braunfels, Texas. The 3-story garden style apartment is the second phase to the existing and successful Ranch at the Guadalupe. It will offer 124-units spread over 6 buildings with Class A furnishings & amenities, and will proved residents with direct access to the Guadalupe River which is known for many recreational activities. 


The financing was secured through the U.S. Department of Housing and Urban Development's 221(d)(4) loan insurance program. Using the program enabled the borrower to secure low-rate, non-recourse financing that is fixed for the initial 12-month construction period and a subsequent 40-year term. The project is being developed by Lev Investments and T R Inscore, LLC, both privately held regional multifamily development and investment firms. Crane Contracting Group, Ltd., will serve as the project's general contractor and The Lynd Company will serve as the management agent. 

Mason Joseph Company completed the closing of a $9,069,300 loan for the construction and permanent financing of Oak Hollow II, a 96-unit market-rate apartment community off Highway 123 Bypass which is the main commercial corridor in Seguin, Texas. The apartment will offer 96 units spread over 5, three story garden-style apartment buildings with Class A furnishings & amenities. The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 12-month construction period and a subsequent 40-year term. The project is being developed by the Seguin, Texas based R.L. Miller Construction, Inc, a privately held multifamily development firm. Crane Contracting Group, Ltd. will serve as the project’s general contractor and Sunridge Management Group, Inc will serve as the management agent.   

Mason Joseph Company arranged the refinancing of Sunrise Townhomes, a $2.5 million loan for 36-unit affordable apartment community in Fredericksburg, Texas. The apartment offers 36 units spread over twelve triplex buildings. The financing was secured through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for 35 years. Sunrise Townhomes is located southeast of downtown Fredericksburg, Texas.  It is governed by HOME Funds which assures residents of affordable rental rates. The project was refinanced by MacDonald Companies, a privately held regional multifamily development and investment firm. 

MJC completed the closing of a $24,033,800 loan for the construction and permanent financing of Champions Gate, a  214-unit market-rate apartment community at the intersection of Champions Gate road and North Loop 1604 in northwest San Antonio, Texas. The apartment will offer 214 units spread over 9, three story garden-style apartment buildings with Class A furnishings & amenities. 


The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a low-rate, non-recourse loan that is fixed for the initial 16-month construction period and a subsequent 40-year term. The project is being developed by the San Antonio, Texas based Versa Development, LLC and RRG Developers, LLC, both privately held regional multifamily development and investment firms. Galaxy Builders, Ltd will serve as the project’s general contractor and HomeSpring Residential Services, LLC will serve as the management agent.   

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