Posted Oct 15, 2024, 11:52 AM
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Join Date: Jan 2009
Posts: 14,734
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Northmarq Arranges Construction Financing for 142-Unit Development Near University of Texas at Austin
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Austin, Texas — Northmarq has arranged construction financing for Avalon Pointe, a 142-unit student housing development located near the University of Texas in Austin’s West Campus neighborhood. The 10-story community will offer studio, one- and two-bedroom units. Shared amenities will include a first-floor study lounge, fitness center, electric vehicle charging stations and a 10th floor social room. Cheryl Higley, Ryan Shoars, Noah Villicana and Haylee Williamson of Northmarq’s Austin debt and equity team secured the financing on behalf of an undisclosed borrower. The financing allows up to 75 percent loan-to-cost and offers a built-in, mini-perm option. A timeline for the project was not disclosed.
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Last edited by Urbannizer; Oct 16, 2024 at 5:41 AM.
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