August 3, 2017 Comments Off on $20M Loan to Spur 266-Unit Construction Views: 771 Texas - Other, Texas News

$20M Loan to Spur 266-Unit Construction

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Developer Cypressbrook Co., headquartered in Houston, secured a $20-million construction/mini-perm loan from Texas Capital Bank to build the 266-unit Ariza College Station Apartments in College Station, TX. Texas Capital Bank provided a 36-month construction term and 24-month mini-perm loan, with 30-year amortization.

The project will go north on approximately 16.5 acres on Harvey Road. A groundbreaking date was not disclosed. The two- and three-story project will offer one-, two- and three-bedroom apartments, along with a clubhouse, pool and greenbelt area.

Cypressbrook Co. is a 20-year-old commercial real estate, real estate brokerage, management and development company. The firm, and its affiliates, have renovated and developed more than 5,000 units over the past five years.

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