Lone Star Funds Scores $110M Refinancing for Two Stafford Rental Communities

Loan Star Funds closed on a $110 million refinancing for 1879 at the Grid and Arc at the Grid, two Class A multifamily properties totaling 731 units within a 192-acre mixed-use development in Stafford, Texas.

Walker & Dunlop Capital Markets Institutional Advisory arranged the loan. Dustin Stolly, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Michael Ianno and Edward Leboyer arranged the floating-rate, interest-only loan from TPG Real Estate Credit.

Built in 2019 and 2020, respectively, 1879 at the Grid and Arc at the Grid span 731 total units. Both properties feature a mix of studio, one-, two- and three-bedroom residences. Amenities include pools, fitness and wellness centers, resident lounges, coworking spaces, pet parks, outdoor lounges and courtyards, package lockers, detached garages and carports, barbecue areas and fire pits.

Located along the U.S. 90A corridor, 1879 at the Grid and Arc at the Grid offer direct access to Interstate 69.