GID has secured a $67.6 million Fannie Mae loan originated by Berkadia. The note’s collateral is Eleven by Windsor, a 257-unit luxury property in Austin, Texas.
Previous debt included a $33 million note originated by Nationwide in 2016. That loan had a maturity set in 2023.
Completed in 2014, Eleven encompasses one- and two-bedroom layouts that average 793 square feet. Amenities include a gym, swimming pool and business center, as well as a multi-level pet park.
The community may undergo renovations. They include interior and exterior repairs to wood framing and stucco, in addition to fixes to the property’s waterproofing systems and landscaping, among others.
Located inside Austin’s northeast submarket at 811 E. 11th St., the community is roughly 1 mile from the city center. The property has direct access to Interstate 35.
GID owns and operates more than 55,000 units throughout the nation. The firm’s Texas portfolio includes The Sovereign at Regent Square in Houston, a 290-unit property that also was refinanced with a GSE loan, a $57.8 million Freddie Mac note issued by Newmark in April.
