David B. Norton Arranges $35.4M in Construction Financing for Multifamily Project Near San Antonio

by Taylor Williams

UNIVERSAL CITY, TEXAS — Capital advisory firm David B. Norton Inc. has arranged $35.4 million in construction financing for a 268-unit multifamily project in Universal City, a northeastern suburb of San Antonio. The development will consist of 10 buildings on a 14-acre site The financing, which represents about 77 percent of the total project capitalization, includes both debt from an undisclosed regional bank and preferred equity from an undisclosed institutional investor. The name of the developer was also not released.

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