PGIM Provides $48M in Freddie Mac Permanent Financing for Houston Apartment Project

HOUSTON — PGIM Real Estate Finance has provided $48 million in Freddie Mac permanent financing for Red Line Station, a 300-unit affordable housing project in Houston. The borrower, San Antonio-based The NRP Group, will use a majority of the funds to retire construction debt. The loan was structured with a 10-year term and a 35-year amortization schedule. At least 50 percent of the units will be reserved for renters earning up to or less than 80 percent of the area median income.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News

Webinars on Demand


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties