The asset involved in the context is a development site located in Frisco, which is part of a growing multifamily market. The asset will be developed as the Freemont Frisco Apartments, comprising 313 units that include some affordable housing options. The construction financing secured for the project amounts to $57 million, facilitating its expected completion by mid-2028.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $57,000,000
• Lender: BridgeInvest & 25 Capital Partners
• Landlord: Venkat Avasarala - Stryker Properties; Griffon Capital Management
• Loan Type: Construction
• Number of Units: 313
• Completion Date: Mid-2028

This transaction involves a joint venture between Stryker Properties and Griffon Capital Management, with financing assistance from BridgeInvest and preferred equity from 25 Capital Partners. The collaboration highlights the growing interest in development capital within Frisco amid fluctuating rent trends in the region.