(To read more on the multifamily market and the debtand equity markets, click here.)

HOUSTON-A joint venture developer has obtained $22 million inpermanent financing for the 308-unit Retreat at City Park. Thevehicle replaces a floating-rate construction loan.

Robert LaRue, partner with locally based Live Oak Capital Ltd.,tells GlobeSt.com that the original loan was floated in 2001 forthe 1640 E. TC Jester Blvd. development and some funds used threeyears later to build more townhouses right across the street. Theborrower is City Park Venture, a joint venture between AlliedRealty Services and Baxter Development Corp., both fromHouston.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.