SHENANDOAH, TEXAS — Johnson Capital Multifamily, a Dallas-based, LLC subsidiary of Oak Real Estate Partners, has closed a construction-to-permanent loan of an undisclosed sum for a joint venture to build WoodLofts, a 229-unit project 30 miles north of Houston.

The loan, financed through FHA’s 221(d) multifamily mortgage insurance program, carries a fixed interest rate of 5.55 percent. The structure combines both construction and permanent financing into a single package. The developer is Woodlofts Shenandoah, a joint venture between Buckhead Investment Partners and Juniper Investment Group, both based in Houston. The WoodLofts site is adjacent to The Woodlands mixed-use, master-planned development.