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Leon Capital Procures Financing for Mansfield Rental Asset
Leon Multifamily, a subsidiary of Leon Capital Group, secured $33.5 million in construction financing from Broadway Bank for a multifamily project at Heritage Parkway and Miller Road in Mansfield, Texas. The project, called Soltra Rosa, is expected to cost $46.5 million In addition, Leon recently closed two other multifamily construction loans in two other towns:
- $58.5 million from ACORE CAPITAL for a multifamily development at 3000 Bearing Way, Morrisville, NC 27560.
- $41.5 million from Alerus Financial for a multifamily development at 3340 E. Warner Road, Gilbert, AZ 85296.
David Cocanougher, President of Leon Multifamily, added, “We believe the window to realize lower construction costs and deliver into a lower new supply environment is quickly closing, making our ability to execute these transactions with speed and certainty all the more important. We remain committed to strategically growing our portfolio despite these tough market conditions.”
Over the past two years, Leon Multifamily has initiated or completed nearly 2,300 units across seven developments.
- ◦Development
