Arixa Capital Provides $29.65 Million Loan For Development Site In Plano Texas

The property asset involved in the transaction is a development site located at 2601 East Parker Road in Plano, TX. The loan amount for this construction financing is $29,650,000, designated to support the development of a single-family residential community comprising 48 homes. The financing arrangement includes a non-recourse loan, featuring 80% loan-to-cost, which will cover both horizontal development and vertical construction for the first 30 homes.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $29,650,000
• Lender: Arixa Capital
• Buyer's Representative: Charles Saad – CS Capital Group
• Broker: David Sirchenko & Brian Flax - Meridian Capital Group
• Market: Plano, TX
• Loan Type: Construction
• Number of Homes: 48
• Phase: First Phase
• First Homes Financing: 30 Homes

This transaction involves key individuals and companies, with Meridian Capital Group acting as the broker responsible for arranging the construction financing. The involvement of Charles Saad from CS Capital Group as the buyer's representative highlights the collaboration in securing funding for the residential community project in Plano, Texas.