ORIX USA’s Real Estate Capital Group announced the closing of a $45.8 million construction loan that will be used to build a 300-unit, 3-story modular multifamily project in Texas.
The unit mix of the property will be 14% studio, 56% 1-bedroom, 25% 2-bedroom, and 5% 3-bedroom. The unit amenities will include a stainless-steel appliance package, quartz countertops, premium wood-style flooring, double-insulated walls for peaceful living, custom controlled a/c, full-size washer and dryer, and spacious balconies/patios. The community amenities will include an indoor and outdoor entertainment space, co-working lounge and conference room, fitness center, private entertainment space equipped with kitchenette, complimentary coffee bar, community-wide WiFi, and 24-hour onsite maintenance.
“We are excited to have closed this non-recourse multifamily loan, marking our third opportunity with this valued repeat client. This transaction reflects our dedication to evidence-based underwriting and our ability to identify strong supply and demand fundamentals, even in smaller markets. We are pleased to support high-quality opportunities that align with our strategic approach. As a top balance sheet originator, we remain highly active in the market, continuing to close well-structured, successful transactions,” said Adam Diamond, Managing Director, ORIX USA Real Estate Capital.
ORIX USA’s Real Estate Capital Group is a proprietary commercial real estate lending business, delivering customized financing for a full range of property types in primary and secondary metropolitan markets in the U.S. and Canada. Loans made or arranged in California are pursuant to a California Financing Law license.
Since inception, the Real Estate Capital Group has successfully invested over $4 billion of balance sheet capital. For over 20 years the Real Estate Capital Group has been reliably providing construction and bridge financing for commercial real estate through a range of market cycles.
The Real Estate Capital Group is comprised of seasoned specialists transacting on a full range of property types. The group specializes in construction, bridge, mezzanine, and preferred equity opportunities and has fully dedicated origination, underwriting, closing, and servicing teams, ensuring that clients’ needs are met with timely execution.