CBRE Secures $28.9M HUD Construction Loan for San Antonio Apartment Project

by Taylor Williams

SAN ANTONIO — CBRE has secured $28.9 million in HUD construction financing for Abacus Alamo Ranch, a multifamily project in San Antonio that will deliver 320 market-rate units. Amenities will include two resort-style pools, a clubhouse with a fitness center, volleyball court, coffee bar, business center and a dog park. Casey Knust and Chad Ricks of CBRE secured the nonrecourse loan, which features interest-only payments for the 18-month construction period, through HUD’s 221(d)(4) program on behalf of the borrower, Heiser Development Corp.

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