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44-East-Avenue-Austin
DevelopmentLoansMultifamilyTexas

Intracorp Receives $194M Construction Loan for 49-Story Residential High-Rise Project in Austin

by Taylor Williams

AUSTIN, TEXAS — Intracorp, a developer with five offices across North America, has received a $194 million construction loan for its 49-story condominium project at 44 East Ave. in Austin’s Rainey Street District. MSD Partners LP and Bank OZK provided the financing. Situated on the edge of Lady Bird Lake, the building will offer one-, two-, three- and four-bedroom floor plans ranging in size from 500 to 3,500 square feet. Amenities will include a pool, community kitchen and a rooftop lounge. The project, which is the only condo development currently under construction in downtown Austin, is expected to be complete in 2022. Nearly half the residences have already been sold.

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LoansMultifamilyTexas

Arbor Provides $28M Fannie Mae Loan for Refinancing of Houston Apartments

by Taylor Williams

HOUSTON — New York-based Arbor Realty Trust Inc. has provided a $28 million Fannie Mae loan for the refinancing of Casa Verde, a 384-unit apartment community in Houston. Built in 1973 and renovated in 2010, the property features one-, two-, three- and four-bedroom floor plans. Amenities include a pool, clubhouse and onsite laundry facilities. Brian Scharf of Arbor originated the loan on behalf of the undisclosed borrower.

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LoansMultifamilyTexas

Dwight Capital Provides $23.8M HUD Green Loan for Refinancing of Austin Apartments

by Taylor Williams

AUSTIN, TEXAS — New York City-based Dwight Capital has provided a $23.8 million HUD loan for the refinancing of Oxford at Tech Ridge, a 256-unit apartment community in Austin. The property features one- and two-bedroom units and amenities such as a pool, fitness center, indoor basketball court, resident clubhouse, business center and a dog park. Brandon Baksh and Brian Yee of Dwight Capital originated the loan through HUD’s Green Mortgage Insurance Premium program, which allowed for a reduced rate of 0.25 percent based on the property’s green/energy efficient status. The sponsor was Justin Swartz, owner of Oxford at Tech Ridge Apartments LLC.

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The-Junction-at-College-Station
LoansMultifamilyStudent HousingTexas

Berkadia Provides $31.7M Freddie Mac Loan for Student Housing Property in College Station

by Taylor Williams

COLLEGE STATION, TEXAS — Berkadia has provided $31.7 million in Freddie Mac permanent financing for The Junction at College Station, a student housing community located about five miles from Texas A&M University. The property consists of three-, four- and five-bedroom cottages and townhomes. Amenities include a pool, volleyball court, clubhouse, fitness center, business center and shuttle service to campus. Thomas Genetti of Berkadia arranged the 10-year loan on behalf of the undisclosed borrower.

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LoansMultifamilyTexas

Arbor Provides $4M Fannie Mae Loan for Refinancing of Multifamily Property in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — New York-based Arbor Realty Trust Inc. has provided a $4 million Fannie Mae loan for the refinancing of Monaco Boulevard Apartments, a multifamily property in the Rio Grande Valley city of Laredo. The community was built in 2013 and totals 44 units. Jared Stein of Arbor provided the loan, which carries a 10-year term, fixed interest rate and a 30-year amortization schedule. The borrower was not disclosed.

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IndustrialLoansTexas

JLL Arranges Construction Financing for 2.4 MSF Industrial Project in Irving

by Taylor Williams

IRVING, TEXAS — JLL has arranged an undisclosed amount of construction financing for DFW Park 161, an industrial project near DFW International Airport in Irving that will eventually total more than 2.4 million square feet. The development team, a partnership between Invesco Real Estate and Perot Development Co., broke ground in late February on Phase I of the 196-acre project, which will feature about 1 million square feet of speculative space. DFW Park 161 will ultimately consist of four Class A buildings with cross-dock configurations, 32- to 40-foot clear heights and a total of 383 trailer parking spaces. Stephen Bailey, Dustin Volz and John Rose of JLL arranged the five-year construction loan on behalf of the development team.

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LoansMultifamilyTexas

Arbor Provides $3.2M Fannie Mae Refinancing for Apartment Community in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — New York-based Arbor Realty Trust has provided a $3.2 million Fannie Mae loan for the refinancing of Bella Brisa Apartments, a 42-unit community located in the Rio Grande Valley city of Laredo. The property was built in 2012. Jared Stein of Arbor originated the loan, which was structured with a 10-year term, a fixed interest rate and a 30-year amortization schedule. The borrower was not disclosed.

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LoansMultifamilyTexas

Embrey Receives Refinancing Loan for 350-Unit Apartment Community in Frisco

by Taylor Williams

FRISCO, TEXAS — Embrey Partners, a San Antonio-based multifamily developer, has received a loan for the refinancing of Domain at the Gate, a 350-unit apartment community in Frisco. Built in 2017, the property offers a 24-hour fitness center with yoga and spin studios, an indoor sports simulator, clubhouse and coffee bar, pool with outdoor kitchen and a private library. Pacific Life Insurance Co. provided the loan, and Trinity Real Estate Finance Inc. placed the debt. The amount of the loan was not disclosed.

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LoansMultifamilyTexas

Dougherty Provides $7.7M Loan for Refinancing of Denton Apartment Complex

by Taylor Williams

DENTON, TEXAS — Dougherty Mortgage LLC has provided a $7.7 million Fannie Mae loan for the refinancing of Hollyhills, a 100-unit apartment complex in Denton. The property features a dog park, pool, grilling area and covered parking. Dougherty originated the loan, which was structured with a 12-year term and a 30-year amortization schedule, on behalf of the borrower, Holly Hills 76205 LLC.

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LoansOfficeTexas

JLL Arranges Refinancing of 443,549 SF Two CityWestPlace Office Tower in Houston

by Taylor Williams

HOUSTON — JLL has arranged a loan for the refinancing of Two CityWestPlace, a 443,549-square-foot office tower located in Houston’s Westchase neighborhood. The building is situated within the 29-acre CityWestPlace complex, which offers amenities such as conference space, a dry cleaner, salon, dentist, car detailing and auto service, multiple food and beverage options, two fitness centers, jogging track, soccer field, basketball court, sand volleyball and bocce ball courts. Susan Hill, Jett Lucia and Sherri Rollins of JLL arranged the five-year, floating-rate loan through Regions Bank and Citizens Bank on behalf of the borrower, Parkway.

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