Anthem Development is ready to get to work on Lofts iThirty, a 340-unit rental community in Garland Texas. Anthem and advisory firm Nova Capital successfully closed on $63 million of joint venture equity and debt for the acquisition and development of the project. It’s located on 10.4 acres at the Northwest corner of Broadway and Interstate 30 in Garland, Texas. Completion is scheduled for 2025.
The firm ultimately secured co-investment from an institutional joint venture equity partner with over $6 billion in capital under management and a debt facility with Bank OZK. For Anthem, the project is its second deal with the institutional joint venture equity partner and Bank OZK in the past 14 months. The groups recently wrapped up a project in Sachse.
Lofts iThirty’s community amenities include two resort style pools, pet spa, pet park, game room, coffee bar, remote work lounge, outdoor kitchens, two 24-hour fitness centers totaling over 3,500 square feet, elevator access, and climate-controlled corridors.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.