Dealmaker: Bellwether Enterprise Closes $59M for Austin Affordable Multifamily

Bellwether Enterprise Real Estate Capital LLC, Cleveland, closed a $59 million Fannie Mae Multifamily Affordable Housing loan deal to acquire Broadstone 8 One Hundred, located at 8100 Anderson Mill Road in Austin, Texas.

Broadstone 8 One Hundred, Austin, Texas.

Kevin Bowen, executive vice president in Bellwether Enterprise’s Dallas office, originated the loan on behalf of the borrower.

“Ensuring that families have access to high-quality, affordable homes is critical for communities in Austin as the city continues to grow,” Bowen said.

Broadstone 8 One Hundred consists of 376 one- and two-bedroom units. At acquisition, the borrower restricted 50% of the units for tenants making 80% or less of area median income. The property includes a clubhouse for residents with entertainment spaces, a 24/7 athletic center, an executive business center, a resort-style swimming pool and a dog park. In-home amenities include custom hardwood-style flooring, designer carpeting, granite countertops, washers and dryers and walk-in closets.