A joint venture between Stryker Properties and Griffon Capital Management has secured $57 million in construction financing to move forward with the Freemont Frisco Apartments, a 313-unit multifamily community in Frisco, Texas. The project will add new rental housing to one of the fastest-growing suburbs in the Dallas–Fort Worth Metroplex and is scheduled for completion in mid-2028.
BridgeInvest provided the senior construction loan, while 25 Capital Partners supplied preferred equity for the development. BBL Building Co. has been selected as the general contractor for the mid-rise, wrap-style project.
An as-yet unspecified number of Freemont Frisco Apartments will be affordable. 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 team has not yet released detailed information about unit interiors or resident amenities. However, the sponsors indicated that, once the property reaches stabilization, they intend to evaluate either a refinancing or a potential sale.
Plano-based Stryker Properties is known as a multifamily syndicator active across Texas, while Corpus Christi-based Griffon Capital Management has completed more than 6,700 multifamily units nationwide. Miami-based BridgeInvest focuses on middle-market commercial real estate loans ranging from $10 million to $150 million.
The capital stack for Freemont Frisco reflects renewed lender appetite for well-located multifamily projects despite softer national fundamentals. Construction lending had tightened through 2024 and early 2025, but sponsors with strong track records and affordable components are increasingly able to secure competitive terms. The involvement of preferred equity from 25 Capital Partners also signals investor confidence in the long-term demand drivers within the North Texas market.
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.
Market analysts note that Frisco’s strong demographic trends continue to attract developers even as the region digests a wave of new supply. Proximity to major employers in the Plano-Legacy corridor, along with highly rated schools and expanding retail and entertainment options, has helped the suburb maintain above-average absorption compared with other parts of the Metroplex.
The inclusion of an affordable housing component could further support lease-up, as municipalities across North Texas face mounting pressure to provide attainable options for workforce renters. By partnering with the Frisco Housing Authority, the sponsors are aligning the project with local policy goals while broadening the potential resident base.
Originally reported by Dees Stribling in Multihousingnews.
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