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IPA Obtains Construction Loan for Grand Prairie BTR Community
IPA Capital Markets arranged $52.3 million in financing for the construction of two build-to-rent (BTR) communities. One of the properties, the Villas at Bardin, is at 4115 S Great Southwest Pky, in Grand Prairie.
IPA’s Capital Markets team was led by Adam Mengacci, in IPA’s Dallas office. Mengacci worked on behalf of Republic Property Group to secure and structure two bank loans and $10.4 million in preferred equity.
“The BTR asset class has been the fastest-growing segment of the U.S. housing market, outpacing both the single-family home and multifamily housing sectors,” said Republic Property Group’s Tony Ruggeri.
The other property is the Ridgeline Vista Townhomes in the Denver MSA. Amenities for both include two-car garages and fully maintained front yards.
- ◦Financing
