Berkadia Arranges Debt & Equity Refinance of Apartments Outside Austin, Texas
Austin, Texas– August 1, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announces that it arranged debt and equity to recapitalize The Conley, a 259-unit apartment community located in the Austin, Texas suburb of Leander.
Managing Director Scott Wadler and Senior Director Matt Nihan, along with Senior Managing Director Mitch Sinberg, and Managing Directors Brad Williamson and Matt Robbins, arranged the financing on behalf of the sponsors, a joint venture between Beacon Real Estate Group and Constellation Group, both of Coral Gables, Miami.
Lender Lasalle provided a loan with a three-year term and two 12-month extension options. A Los Angeles-based preferred equity partner also contributed capital to the deal, which closed on July 30. The property is fully stabilized.
“Despite a volatile rate environment and challenging Austin market fundamentals, Berkadia was able to arrange a collaborative and creatively structured senior debt and preferred equity capital stack to refinance the existing mortgage on the property,” said Wadler.
Built in 2020 at 665 N. Bagdad Road, The Conley offers thoughtfully designed one-, two-, and three-bedroom apartments featuring modern living spaces with 10-foot ceilings, high-end appliances and stylish finishes. Resort style community amenities include a sparkling pool, 24-hour fitness center, resident lounge with coffee bar, co-working space and a pet park.
Leander is a charming suburb approximately 40 minutes north of downtown Austin. The property offers residents convenient access to the town’s new downtown district, the Northline, featuring premium shopping and dining destinations, as well as nearby parks and recreation areas like Brushy Creek Lake Park and Devine Lake Park.
Experts Predict Multifamily Market Recovery as Deals Close | Austin Business Journal
Berkadia Arranges Debt & Equity for Austin Apartment Refinancing | Multifamily Press
Joint Venture Owners Refinance Austin Asset | Multifamily & Affordable Housing Business