Sharyland Apartments - FHA Deal of the Month

Multi-Family - 192 Units

40 year fully amortizing construction and permanent loan
 

FHA Multifamily News
Deal of the Month

Sharyland Apartments – Mission, TX 

The San Antonio Program Center Initial Endorsed Sharyland Apartments on March 25. The loan was insured under the Section 221(d)4 program in the amount of $15,456,600 and will consist of 192 market rate units. D. Ansley Company was the originating mortgagee and Love Funding is the GNMA Issuer. The complex will be located on Shary Road in Mission, TX. The one-, two-, and three-bedroom units range from 575 to 1,366 square feet. The garden type design will also include a club/leasing office with approximately 3,500 square feet. The club building will consist of a reception area for leasing, management offices, a conference room, community room with kitchen, and fitness center. Unit amenities will include a smooth-top range and side-by-side refrigerators with ice makers, in addition to other standard kitchen appliances. 

The complex will be located in the 6,000-acre master planned Sharyland Plantation development. Sharyland Plantation currently consists of 1,600 single-family homes, a 55-acre town center which includes professional and medical office buildings, a hotel, restaurants and retail. One mile south of the complex is the Sharyland Business Park, which encompasses 450 acres including 4,000 square feet of warehouse space that is home to several Global 1000 companies, including Panasonic, Emerson Electric, Motorola and others. 

Units should be available for lease in approximately nine months.