Stryker Properties and Griffon Capital Management teamed up to secure a $57 million construction loan for the development of Fremont Frisco Apartments, a 313-unit residential project in Frisco. Delivery is scheduled for mid-2028.
Multi-Housing News reports BridgeInvest provided the construction loan, with preferred equity coming from 25 Capital Partners. BBL Building Co. is the development’s general contractor.
The partnership will help secure affordable rents for some units. The property will reserve 45 percent of units for people making 80 percent of the area median income and five percent for those earning 60 percent AMI.
Plano, Texas-based Stryker Properties is a multifamily syndicator, while Corpus Christi-based Griffon Capital Management is a multifamily development specialist, having completed over 6,700 multifamily units nationwide. BridgeInvest targets middle-market commercial real estate loans with principal amounts between $10 million and $150 million.
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