Dallas-Area Apartments Land $57M Construction Loan
The development will include an affordable component sponsored by a local housing authority.
A joint venture between Stryker Properties and Griffon Capital Management has obtained a $57 million construction loan for the development of Freemont Frisco Apartments, a 313-unit residential project located in Frisco, Texas, a suburb of the Dallas-Fort Worth metro. The community is slated for completion in mid-2028.
BridgeInvest provided the construction loan, with preferred equity coming from 25 Capital Partners. BBL Building Co. is the development’s general contractor.
The community will participate in an affordable housing program in partnership with the Frisco Housing Authority, under Chapter 392 of the Texas Local Government Code. The partnership will facilitate affordable rents for some of the units.
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The development partners haven’t yet released details yet on unit or community amenities for the project, but did say that it will be a mid-rise, wrap-style building. Upon stabilization, they plan to pursue either a refinance or sale of the property.
Dallas-based Humphreys & Partners Architects is the architect for the project, and HPA Design Group is serving as the interior designer.
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.
Frisco, multifamily hotspot
Ian Glaser, a partner at BridgeInvest, told MHN in January 2026 that parts of the Northeast, as well as major metros in Florida, Texas and Georgia are seeing an uptick in multifamily development. That includes parts of the Dallas-Fort Worth area, where the company has been particularly active.
Frisco has been a growing market in recent years, with its population expanding an average of 5.4 percent annually over the past decade, including a 6.9 percent increase in 2024 alone, according to Census Bureau data—far above the national average. Frisco is also near the Plano-Legacy submarket, one of North Texas’ largest employment hubs, with more than 40 million square feet of office space.
Overall, however, the Metroplex’s fundamentals have softened recently. Asking rents in the area declined by 1.9 percent in September 2025 compared with a year earlier, while the U.S. rate edged up 0.6 percent, according to Yardi Matrix data. Occupancy eked out a 10 basis point increase year-over-year to 93.1 percent in August, concurrent with moderating deliveries and softer investment activity.
