Lot Development for Single Family For Rent - Denton, TX
$2,500,000 loan arranged by PlattPointe Capital.
DENTON, TX - PlattPointe Capital placed a $2,500,000 lot development loan to construct the horizontal infrastructure for 79 single-family homes built for rent in Denton, TX. The community, Canvas at Denton, will be a Class A rental community consisting of a mix of 79 single-family and townhome units as well as one community clubhouse. Upon completion of the lots, the developer intends to refinance the lot development loan into a vertical construction loan. The project is located about 40 miles northwest of Dallas and 40 miles northeast of Fort Worth. Denton is located within the DFW metroplex, which is ranked 1st in the nation in annual job growth. The area has experienced high levels of in-migration, thus increasing demand for rental units.
For rent single-family home communities (“SFR”) are one of the hottest emerging product types in commercial real estate. In the current market conditions, the SFR strategy is a product that performs well in all market cycles. During the 2008 recession, the demand for single-family rental homes surged. People who no longer could afford or wanted to buy a home still chose to rent the highest quality product they could afford, in quality areas they desired to live in.
About PlattPointe Capital:
PlattPointe Capital LLC is a boutique commercial real estate capital advisory firm that helps developers and investors navigate the ever-changing capital markets by arranging numerous debt and equity options for a client’s project. Our vision is to engineer the most efficient capital stack based on the constraints of a given project and sponsor’s needs.
More information can be found at www.plattpointe.com.
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Units For Rent