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Lucent Assists Sponsor in Assembling $246M Full Capital Stack
Lucent Capital recently advised Tru Development on $246 million in construction debt, Co-GP equity and LP equity across two apartment development projects totaling 716 units in Nevada. The two properties were KaktusLife@theCurve and theApex@Vista.
KaktusLife@theCurve, a 356-unit multifamily development in Las Vegas, received $78.4 million in non-recourse construction debt and $56.6 million in Co-GP and LP Equity. theApex@Vista, a 360-unit multifamily development in Sparks/Reno, received $66.5 million in non-recourse construction debt and $44.3 million in Co-GP and LP Equity.
“Lucent Capital helped secure multiple debt and equity term sheets for both projects,” says Adam Emrani, managing director. “We assisted our sponsor in putting together the full capital stack, including a Co-GP that provided balance sheet support.”
- ◦Financing
