Joint Venture Secures $32.1M Loan for Seguin Multifamily Build

JLL Capital Markets closed a $32.125M construction financing for the development of The Virginia, a 198-unit apartment rental community in Seguin, Texas. The borrowers were Periscope Capital Investment and Verdot Capital for the 15-year, floating-rate loan.

With an anticipated completion in 2024, the three-story project will offer one-, two- and three-bedroom units, averaging 892 square feet. Community amenities will include a fitness center, sauna, yoga room and swimming pool, as well as a a recreational patio, a business center, barbeque areas, dog parks and more. A second phase of this project will be delivered in 2025, which will bring the total market-rate units to 424.

Located at 3501 N. Austin St., The Virginia is located thirty minutes east of San Antonio and about an hour south of Austin.

The JLL Capital Markets Debt Advisory team was led by Director Alanna Ellis, Managing Director Jeff Lepley and Associate Alex Sheaffer.