Financing to Kick Off 115-Unit Edge at Langham Creek

MidHudson LLC used its HUD Reserve Funding Product to complete financing for construction of The Edge at Langham Creek in Houston. The 115-unit project is being built by HS Development at an approximate cost of $18 million.

Mark Crosswell and Eric Kline at Berkadia, and Scott Thurman at Greystone helped secure the funding. MidHudson, headquartered in Virginia, offers developers a non-dilutive alternative for raising reserves required for HUD-financed developments. This product reduces the amount of common equity required for a project, and increases equity returns.

The exact construction timeline for the northwest Houston apartment project was not announced. According to the developer’s website, amenities will include a pool, several courtyards and a sundeck.

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