Secure $32.1M Loan for Seguin Multifamily Construction Through Joint Venture

JLL Capital Markets closed a $32.125M construction financing for the development of The Virginia, a 198-unit apartment rental community in Seguin, Texas. A joint venture between Periscope Capital Investment and Verdot Capital secured the 15-year, floating-rate loan to fund the project’s completion in 2024.
The three-story building will offer one-, two-, and three bedroom units averaging 892 square feet with amenities such as a fitness center, sauna, yoga room and swimming pool; recreational patio; business center; barbeque areas; dog parks and more. An additional 226 market rate units are planned for delivery in 2025 bringing total unit count to 424 at 3501 N Austin St., located 30 minutes east of San Antonio and about an hour south of Austin.
The JLL Debt Advisory team was led by Director Alanna Ellis along with Managing Director Jeff Lepley & Associate Alex Sheaffer who successfully arranged this transaction on behalf of their clients