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A joint venture of Hunt Capital Partners, Bonner Carrington and Sycamore Strategies has secured $86.3 million in total financing for Cypress Creek Apartment Homes at Montfort Drive, an upcoming 168-unit mixed-income community in Dallas.
Funds include $20 million in federal 9 percent LIHTC financing, awarded by the Texas Department of Housing and Community Affairs and syndicated by Hunt Capital Partners; $32.5 million in construction financing and $22.1 million in permanent financing issued by East West Bank; $11.7 million soft loan, provided by The City of Dallas; Walker Settlement Vouchers provided by Dallas Housing Authority’s; funds from HUD’s Community Development Block Grant Disaster Relief Program.