Casata Obtains $12.5M Equity Loan For San Marcos Rental Community Development

Casata, a rental community developer, has obtained $12.5 million in joint venture equity financing for a San Marcos residential project. The development will feature 210 modular "micro homes" for rent, providing attainable housing options for the middle class, with 90% designated for long-term rentals and 10% available as short-term rentals. The project is located at 2138 Post Road and spans 25 acres in San Marcos.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $12,500,000
• Asset Type: Development Site
• Acres: 25
• Address: 2138 Post Road
• Market: San Marcos

The joint venture equity financing was secured through Marcus & Millichap Capital Corp, with Duke Dennis representing Casata in the deal. This collaboration will enable the construction of affordable rental housing, with 90% of the micro homes designated for long-term rentals and 10% available as short-term rentals. The financing arrangement will contribute to the provision of attainable housing options for the middle class in the San Marcos market.