Townhome Development - Austin, TX

AUSTIN, TX – PlattPointe Capital is pleased to announce the successful placement of $10,700,000 in financing for a townhome project in Austin, TX. The financing was structured as two facilities from a single private lender: a $5,100,000 land bridge loan to refinance the existing infrastructure loan, followed by a $5,600,000 construction loan to fund vertical development of the first phase.

The project is planned for delivery in multiple phases, with Phase 1 comprising 18 townhomes. The land bridge was sized at 60% LTV and included reimbursement of soft costs previously funded by the partnership. The Phase 1 loan was sized at 75% of as-completed value.

The project is located in the northern Austin MSA, a submarket anchored by major employers including the global headquarters of Dell Technologies. The new for-sale townhome product is priced to serve the area's employment base.

Private lenders remain active in phased for-sale residential development, providing sponsors with coordinated land and vertical execution from a single capital source. Please reach out to PlattPointe Capital to discuss your financing needs.

ABOUT PLATTPOINTE CAPITAL
PlattPointe Capital LLC is a boutique commercial real estate capital advisory firm that helps developers and investors navigate the capital markets by arranging optimal alternative 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 the sponsor's needs.

More information can be found at www.plattpointe.com.

For any inquiries nationwide, please contact:
Jason Aubrey | 303.598.3876 | jason@plattpointe.com
Creighton Bildstein | 303.589.4258 | creighton@plattpointe.com
Matthew Biegner | 720.470.7706 | matt@plattpointe.com