Westdale Properties America has secured a $115 million senior loan for three properties in Texas. The loan, provided by Reznik Paz Nevo Trusts, will be used to finance two office buildings and a multifamily community. The first office building is Epic Office I located in Dallas and the second is The Colonnade situated in San Antonio. Additionally, the loan will also cover The Woodmeade – a 304-unit multifamily property located in Irving.
According to information from CommercialEdge, Giryes Capital Group facilitated the transaction for Westdale Properties America.
Epic Office I was completed in 2019 and boasts 282,000 square feet of Class A space spread over 16 stories. It also includes retail space measuring at around 18,000 square feet. Westdale began construction on this mixed-use property back in 2017 under the name “The Epic”. This development project included not only an office building but also a residential tower and boutique hotel which were all financed with a $160 million note from Reznik Paz Nevo Trusts.
In addition to this project, Westdale acquired another property – The Colonnade – from Griffin Partners back in 2012. Located at Interstate-10in San Antonio,this office building offers approximately168255-square-feet of spaceand was originally built-in1983.
