Article found at Citybiz Real Estate
DALLAS – Armed with HUD 221 (d)(4) financing, Dallas-based Encore Multi-Family LLC is breaking ground on a garden-style complex in Bixby, Okla.
Berkadia originated the HUD loan for Encore on Memorial, a 248-unit project to be set along Memorial Drive in the Tulsa suburb. The first units will be ready for occupancy in December.
In February, Encore opened the 200-unit Encore Alsbury at 1350 SW Alsbury in Burleson, south of Fort Worth. “We have multiple projects in our predevelopment pipeline for this year as well with HUD and other institutional organizations,” said Brad Miller, president of the Encore Enterprises Inc. subsidiary.
In a press release, Encore reported 1,196 apartment units are moving through the HUD process and 448 units are under construction.