Resia has obtained a $37.9 million refinancing package for Resia Rayzor Ranch, a 322-unit multifamily community in Denton, Texas. The loan was provided by ACRE, with JLL Capital Markets arranging the financing on behalf of the borrower.
According to Commercial Edge, the property had previously been financed with a $41.8 million HUD Section 223(f) loan. That earlier mortgage carried a 6.28 percent interest rate, was originated in 2023 by Colliers Mortgages and was scheduled to mature in 2058. The new loan from ACRE replaces this prior HUD financing.
The JLL Capital Markets debt advisory team was led by Jesse Wright, Philip Galligan and Lauren Dow, who structured the refinancing for Resia Rayzor Ranch. Their role focused on securing the new debt capital to recapitalize the recently delivered community.
Resia Rayzor Ranch was completed in the second quarter of 2024. The community consists of two seven-story residential buildings situated on a 3-acre site in Denton. The property offers one-, two- and three-bedroom units, with floorplans ranging from 612 to 1,041 square feet.
Shared resident amenities at the community include a swimming pool, a pickleball court, a fitness center and a grade-level parking area with nearly 300 spaces. These features position the asset as a modern, amenitized rental option within the local multifamily market.
Beyond Resia Rayzor Ranch, the company has an established and growing footprint across Texas. Resia owns Resia Ten Oaks in Houston and is developing one additional community currently under construction in Fort Worth, Texas. The firm also has two more communities in the planning stages elsewhere in the state, signaling an ongoing commitment to expanding its Texas multifamily portfolio.
