Texas
Pereff's largest development: 250+ units, HUD AAA credit-enhancement insured loan, $15M total deal. Proof that Pereff operates at full Real Estate Developer scale.
Project at a Glance
The Brief
Highland Crossing Luxury Apartments is the largest project Pereff Development Group has ever developed — 250+ units, roughly $15M in total deal size, structured as a HUD AAA credit-enhancement insured loan. This is the most complex end of the multifamily financing spectrum: government-grade review, HUD guidelines throughout, GNMA-backed securities, non-recourse permanent financing paired with construction financing in a single loan instrument.
The project demonstrates at full scale what Pereff's Real Estate Developer background enables. This is not a contractor who happened to build an apartment project. This is a developer with 25+ years of HUD financing experience executing the most complex loan structure in the multifamily market — then constructing the project to delivery.
The Approach
HUD AAA credit-enhancement — 40-year fixed, non-recourse
Pereff structured and executed a HUD AAA credit-enhancement insured loan: 40-year fixed rate, non-recourse, fully assumable, construction and permanent financing in one instrument, LTV up to 98%. This structure is only available to developers with deep HUD relationships and the experience to navigate a year-plus review process.
HUD AAA credit-enhancement — 40-year fixed, non-recourse
Pereff structured and executed a HUD AAA credit-enhancement insured loan: 40-year fixed rate, non-recourse, fully assumable, construction and permanent financing in one instrument, LTV up to 98%. This structure is only available to developers with deep HUD relationships and the experience to navigate a year-plus review process.
250+ units of luxury apartment construction delivered
Pereff designed and built the project from the ground up. Highland Crossing is the largest single project in Pereff's multifamily track record — which totals over 1,000 apartment units delivered.
250+ units of luxury apartment construction delivered
Pereff designed and built the project from the ground up. Highland Crossing is the largest single project in Pereff's multifamily track record — which totals over 1,000 apartment units delivered.
HUD compliance from design through certificate of occupancy
HUD guidelines govern every phase — design, construction specifications, inspection, draw schedule, certificate of occupancy. Pereff managed HUD compliance throughout. This is not something a GC learns on the job; it is a decade-plus of developer-level HUD experience.
HUD compliance from design through certificate of occupancy
HUD guidelines govern every phase — design, construction specifications, inspection, draw schedule, certificate of occupancy. Pereff managed HUD compliance throughout. This is not something a GC learns on the job; it is a decade-plus of developer-level HUD experience.
HUD AAA credit-enhancement — 40-year fixed, non-recourse
Pereff structured and executed a HUD AAA credit-enhancement insured loan: 40-year fixed rate, non-recourse, fully assumable, construction and permanent financing in one instrument, LTV up to 98%. This structure is only available to developers with deep HUD relationships and the experience to navigate a year-plus review process.
HUD AAA credit-enhancement — 40-year fixed, non-recourse
Pereff structured and executed a HUD AAA credit-enhancement insured loan: 40-year fixed rate, non-recourse, fully assumable, construction and permanent financing in one instrument, LTV up to 98%. This structure is only available to developers with deep HUD relationships and the experience to navigate a year-plus review process.
250+ units of luxury apartment construction delivered
Pereff designed and built the project from the ground up. Highland Crossing is the largest single project in Pereff's multifamily track record — which totals over 1,000 apartment units delivered.
250+ units of luxury apartment construction delivered
Pereff designed and built the project from the ground up. Highland Crossing is the largest single project in Pereff's multifamily track record — which totals over 1,000 apartment units delivered.
HUD compliance from design through certificate of occupancy
HUD guidelines govern every phase — design, construction specifications, inspection, draw schedule, certificate of occupancy. Pereff managed HUD compliance throughout. This is not something a GC learns on the job; it is a decade-plus of developer-level HUD experience.
HUD compliance from design through certificate of occupancy
HUD guidelines govern every phase — design, construction specifications, inspection, draw schedule, certificate of occupancy. Pereff managed HUD compliance throughout. This is not something a GC learns on the job; it is a decade-plus of developer-level HUD experience.
Key Decisions
Financing scale
The 40-year fixed, non-recourse, fully assumable structure reduces long-term carrying cost, eliminates personal liability, and creates a transferable asset. No private lender can replicate this. It requires HUD approval, a minimum year-long process, and a developer with the track record to get through it.
Developer scale
Pereff's healthcare GC business operates in the 3,000–18,000 sf range per project. Highland Crossing demonstrates that the same team has executed 250+ unit multifamily development. The developer skills scale in both directions.
Legacy
Highland Crossing is Pereff's largest single project but not the only multifamily project. Pereff has delivered over 1,000 apartment units total. That depth is what makes the city relationships and HUD financing knowledge credible for healthcare clients as well.
Outcome
Highland Crossing Luxury Apartments was delivered — 250+ units, $15M, on a HUD AAA credit-enhancement insured loan. The largest development in Pereff's history.
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Photos
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