Daniel Corp. Secures $48.29M Construction Loan For San Antonio Apartment Project

A Birmingham-based developer, Daniel Corp., has secured a construction loan of $48.29 million from Fifth Third Bank for a 350-unit apartment project in San Antonio. The development site is located at 17934 North Loop 1604 East in San Antonio's market. The project is expected to feature studio to three-bedroom units, as well as amenities such as a pool and coworking space. The first units of the project are set to be delivered in early 2025.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $48,290,000
• Lender: Fifth Third Bank
• Landlord: Daniel Corp. - Charlie Tickle
• Loan Type: Construction Loan

The project has been financed by Fifth Third Bank, with Daniel Corp. as the developer. Charlie Tickle represents the landlord in this deal, ensuring the successful execution of the construction loan. The funding provided by Fifth Third Bank will contribute to the development and completion of the 350-unit apartment project, adding to the housing options available in San Antonio's market.