Berkadia secured a joint venture equity partner for Stillwater Capital’s multifamily development project in Austin, Texas.
Led by Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick, Berkadia arranged the partnership with an overseas institutional family office.
Said Bhatt, “We were delighted to facilitate a relationship between Stillwater Capital and this Middle East-based family office. We have known the family office for several years and spent a few months in this particular case helping them identify the right developer, market and transaction in the U.S.”
Stillwater will build 750 units in two phases on the site. Phase One of the project broke ground in November. Financial details of the project and partnership were not disclosed.