Westdale Properties America has secured a senior loan of $115 million for three properties in Texas. The loan will be used to finance two office buildings, Epic Office I in Dallas and The Colonnade in San Antonio, as well as a multifamily community called The Woodmeade located in Irving.
According to data from CommercialEdge, the 5-year fixed-rate financing was provided by Reznik Paz Nevo Trusts. Giryes Capital Group facilitated the transaction.
Epic Office I is a Class A building that was completed in 2019 and spans over 282,000 square feet with an additional 18,000 square feet of retail space. Westdale began construction on this mixed-use property which also includes residential units and a boutique hotel back in 2017. To fund its development, Westdale had previously obtained a $160 million note from Reznik Paz Nevo Trusts.
The Colonnade was acquired by Westdale from Griffin Partners back in 2012. This office building covers an area of approximately168,255 square feet and has been operational since its opening year of1983.It is situated at9901 Interstate10inSan Antonio.
