Article by Encore Multi-Family, LLC found in PR Newswire
OKLAHOMA CITY, April 29, 2011 /PRNewswire/ — Encore Multi-Family, LLC announced yesterday the completion of financing through the U.S. Department of Housing and Urban Development (HUD) 221(d)(4) program for the company’s next ground-up development project, Encore on Memorial, a garden-style apartment community located in the Tulsa suburb of Bixby, Oklahoma. Working with HUD approved lender Berkadia, the second largest originator of HUD loans in the U.S., the Encore Multi-Family team traveled to Oklahoma City Thursday to memorialize the achievement, and immediately begin construction on the newly financed and green-lighted development project.
“Encore Multi-Family has reached a milestone yesterday reinforcing our company’s vision and foresight with the start of our fifth ground-up multifamily development in Tulsa,” said Dr. Bharat Sangani, chairman of Encore Enterprises, Inc. “Working with our lender and HUD has provided Encore the financial foundation needed during the recession to develop very successful communities that residents will enjoy for years.”
Brad Miller, president of Encore Multi-Family applauded HUD for their work ensuring a successful closing process for the much needed apartment home community in the Bixby/Tulsa area.
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