Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Westdale Secures $115M Refi for 3 Texas Properties
Westdale Properties America has received a $115 million senior loan for three Texas properties, two office buildings and a multifamily community. The office buildings are the Epic Office I in Dallas and The Colonnade in San Antonio, along with The Woodmeade, a 304-unit multifamily property in Irving.
Reznik Paz Nevo Trusts provided the 5-year, fixed-rate financing, according to CommercialEdge information. Giryes Capital Group arranged the transaction.
Completed in 2019, the 16-story, Class A Epic Office I building at 255 Pacific Ave. totals 282,000 square feet. It includes 18,000 square feet of retail space. Westdale broke ground on The Epic, a mixed-use property that also includes a residential tower and a boutique hotel, in 2017. The developer financed the project’s construction with a $160 million note also provided by Reznik Paz Nevo Trusts.
Westdale purchased The Colonnade from Griffin Partners in 2012. The 168,255-square-foot office building opened in 1983. It is located at 9901 Interstate 10 in San Antonio.
- ◦Financing
