Stonebriar Village 446827

1500 Yonkers St. - Plainview, TX 79072

PROPERTY OVERVIEW

Stonebriar Village is a 100-unit mixed-income housing community located in Plainview, TX. The property is conveniently situated minutes from major retailers, including Walmart Supercenter, dining, schools, and I-27. The property was built and placed in service in 2001 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires 90% of the units to be rented to income qualifying residents earning no more than 50% and 60% of the Area Median Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs. The property is beyond its initial compliance period. Stonebriar Village offers one, two, and three bedroom apartment homes, each featuring a fully equipped kitchen, central heat and air, washer/dryer hookups, large closets, extra storage, ceiling fans, and a patio/balcony. Community amenities include a computer center, playground, pool, resident services, garages, on-site management, and 24-hour emergency maintenance.

Contacts and Office Locations

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. © 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.

601 Union St. Suite 3909 Seattle, WA 98101

SEATTLE OFFICE

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INVESTMENT ADVISORS

Brandon Grisham

Senior Managing Director Affordable Housing 253.653.3313 brandon.grisham@berkadia.com WA License #26367

5960 Berkshire Ln. Suite 1000 Dallas, TX 75225

DALLAS OFFICE

PROPERTY Stats

100

UNITS

2001

Built

81,152

Director Affordable Housing 425.999.1152 adam.tomberg@berkadia.com WA License #22019732

adam tomberg

Managing Director Multifamily 972.458.4589 jay.gunn@berkadia.com TX License #396855

Jay Gunn

LIHTC Property with 10% of the units at market and restrictions expiring at the end of 2040 Strong historical operations with an occupancy rate of nearly 96% over the trailing-12 months Hale County has experienced fantastic rental growth over recent years as evidenced by the 28.64% increase in the average HUD FMR’s across one, two, and three bedroom units since 2018 Conveniently located near numerous area amenities as well as being within a mile of Plainview High School and Wayland Baptist University

INVESTMENT HIGHLIGHTS

Managing Director 770.286.6446 heather.olson@berkadia.com

Heather Olson

MORTGAGE BANKING

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