Berkadia Secures Construction-to-Permanent Financing for a New Affordable Housing Community in Denton, Texas
Denton, Texas – June 9, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the successful financing of a groundbreaking affordable housing project in Denton, Texas. Senior Managing Director Tim Leonhard of Berkadia Affordable Housing secured the construction financing through the newly launched Berkadia Private Placement Program, a streamlined, single-source capital solution for construction-to-permanent financing for affordable housing communities that utilizes tax-exempt bonds.
Dallas-based JPI is the project’s developer, with the deal closing on May 29. Upon completion, the community will be solely owned by the Denton Housing Authority and will provide long-term affordability for rent-burdened residents in the Denton area. Berkadia made available $131,995,000 in construction loan proceeds which will be used to finance the development of 461 new units, half of which are set-aside for families earning 80% or less of Area Median Income (AMI).
“Berkadia is honored to have collaborated on this financing, showcasing the transformative impact of public-private partnerships in advancing the creation of workforce housing. This project was made possible by the visionary leadership of JPI, a distinguished developer with decades of experience in North Texas, alongside the Denton Housing Authority, who is unwavering in their dedication to creating and preserving affordable and workforce housing in the City of Denton,” said Leonhard.
Located at 3309 N Bonnie Brae St, the new affordable housing development will provide easy access to Interstate 35 and State Highway.
Berkadia Affordable Housing is a fully integrated financial services platform comprised of mortgage banking, investment sales, and tax credit syndication that delivers comprehensive investment solutions to clients across the country and distinguishes itself by pairing deep technical expertise and a wide array of product offerings with the drive and focus necessary to help clients grow their business.
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