Ascend at Chisholm Trail

Ascend at Chisholm Trail is a newly constructed Class-A multifamily community built in 2025 and comprised of 387 units, including 75 cottage units and 312 traditional apartments. The property was designed to capture both conventional renters and those seeking single family homes, targeting singles, families, and professionals seeking upscale amenities with more privacy and space than traditional multifamily housing. The project’s objectives were to achieve rapid lease-up in a high-growth Dallas-Fort Worth submarket and to maximize the value of the asset in a competitive environment marked by rising household incomes, significant population growth, and a flourishing regional economy.

Berkadia guided ownership through the process of selling the property with the goal of closing prior to the end of their fiscal year.  The property was still in its initial lease-up and only less than 70% occupied at the start of marketing, requiring a very tailored approach to positioning the presentation of the asset for sale and potential financing options for a buyer.  The sale of the property was successfully closed by the deadline and Berkadia’s mortgage banking team arranged financing for the buyer, securing permanent, non-recourse financing before Ascend at Chisholm Trail reached full occupancy. Leveraging the Freddie Mac Lease Up Program, Berkadia enabled early access to favorable long-term debt, reducing risk during the lease-up period for this new development. The team structured the deal to satisfy all program requirements, including occupancy and income benchmarks, and provided expertise on boosting revenue through new ancillary income sources like bulk WiFi, covered parking, and expanded amenity fees. Berkadia’s robust underwriting, market analysis of local demographic trends and rent growth, and clear financial projections helped both the owner and lender understand the property’s performance potential, ensuring confidence and a successful execution.

As a result of Berkadia’s guidance, the owner achieved their goal for timing of the sale and the buyer secured permanent financing ahead of property stabilization, enabling the early payoff of construction debt and reducing financial risk during the lease-up phase. The property’s mix of units and upscale amenities attracted strong renter demand, driving projected Year 1 revenue above $7.8 million and net operating income near $4.3 million. Additional income was generated from new amenity fees and services, further enhancing returns. Berkadia’s support helped the owner achieve their financial objectives and positioned Ascend at Chisholm Trail as a top-performing investment, with ongoing value creation supported by robust market fundamentals and continued population and income growth in the surrounding area.