(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.

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