The development site located at 3501 N. Austin St in Seguin, Texas is set to undergo a transformation into The Virginia, a 198-unit apartment rental community. The project is being developed by Periscope Capital Investment and Verdot Capital. Upon completion in 2024, The Virginia will offer a range of amenities including a fitness center, sauna, and swimming pool.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $32,125,000
• Loan Type: Construction Loan
• Loan Terms: 15-year, floating-rate

JLL Capital Markets, represented by brokers Alanna Ellis, Jeff Lepley, and Alex Sheaffer from JLL, has successfully secured a $32.125 million construction loan for The Virginia project. This loan will provide the necessary financial support for the development of the apartment rental community. The collaboration between Periscope Capital Investment, Verdot Capital, and JLL Capital Markets highlights the collective effort in bringing this project to fruition in Seguin, Texas.