Sunny Bathija Of Satya Inc Secures $255M Construction Loan From International Bank Of Commerce For Houston Development

The asset involved in this transaction is a development site located at 102 Asbury Street in Houston, encompassing 4 acres. The property is intended for a construction project, specifically The St. Regis Residences, which is a 38-story luxury condo tower featuring 90 units. The project holds significance as Texas' first all-residential St. Regis-branded development, with unit prices starting at $3 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $255,000,000
• Lender: International Bank of Commerce (IBC)
• Landlord: Sunny Bathija - Satya Inc
• Units: 90
• Groundbreaking: Planned for this year
• Percentage Reserved: 40%

Key individuals in this transaction include Sunny Bathija, who represents Satya Inc. in securing the construction loan from International Bank of Commerce. This financing will support the development of a high-end residential project in the Houston market.