**Concord Summit Capital Arranges $25.25M Construction Loan for Katy Build-to-Rent Community**
Concord Summit Capital has secured $25.25 million in senior construction financing for “Colonial Village,” a new build-to-rent (BTR) residential community under development in Katy, Texas. The financing structure represents an 88% loan-to-cost ratio, providing the developer with the ability to retain full ownership without requiring co-general partner or limited partner capital.
The financing was sourced by Concord Summit Capital’s Managing Director, Daniel Eidson, along with Senior Analyst, Ben Applebaum, on behalf of the project developer, Luminous Homes.
Located on a 7.9-acre site, Colonial Village will consist of 103 duplex-style rental units. The planned mix includes 88 two-bedroom units and 15 three-bedroom units, all designed to appeal to middle-income renters seeking larger living spaces and high-quality finishes within a professionally managed rental community.
Luminous Homes, the developer behind the project, is a residential real estate firm with more than 30 years of experience in high-end custom homebuilding. Colonial Village marks a strategic expansion into the growing BTR segment for the firm.
