X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

ROUND ROCK, TX-A San Francisco-based merchant builder has secured a $16.72-million construction loan for the 220-unit Links at Forest Creek. The financing is a 12-month, adjustable-rate loan.

Construction is scheduled to begin in the second quarter on the 55-building complex at 3800-99 Links Lane at Gattis School Road near Red Bud Lane. The 15.8-acre project, being developed by the Trada Group, is one of the last available land tracts in the mixed-use Forest Creek golf course community. Completion is slated for the fall.

Trada’s MO is to sell its finished product to investors, either lock, stock or barrel or piecemeal. “Trada develops apartment communities that have been presold to private investors, who purchase one or more of the four-plex buildings, then manages them as apartment communities to maximize returns for their investors,” Kevin MacKenzie, director with Holliday Fenoglio Fowler LP, says in a press release. Telephone calls to HFF and Trada were not returned by press time.

MacKenzie secured financing through Hillcrest Bank of Kansas City, MO. According to Trada’s website, the Links at Forest Creek’s units have been sold out. “Our investors bought in the Links at Forest Creek because of the strong market demographics, the high visibility location and the fact that it is the only apartment community in the Forest Creek master-planned community,” says Kevin Geddess, Trada’s CEO. The four-plex buildings contain two-bedroom, two-bath units ranging from 915 sf to 958 sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.