Forman Capital Provides $19.5M Construction Loan For Taylor Development Site

A $19.5 million loan has been provided by Forman Capital for a development site in Taylor, Texas. The site is located at 530 FM 973 and is set to be transformed into a 64-unit townhome rental project. This project, developed by Townbridge Capital, is an ideal housing solution located near the upcoming $25 billion Samsung chipmaking plant. The townhomes will feature smart home technology, meeting the demand for modern housing in the area.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $19,496,000
• Lender: Forman Capital (Scott Mehlman & Ben Jacobson)
• Landlord: Castlewood Townhomes, LLC & Townbridge Capital (Aaron Levy)

Forman Capital, represented by Scott Mehlman and Ben Jacobson, provided the construction loan for this development project. The loan will support the construction of the 64-unit townhome rental project, which aims to address the need for housing in Taylor, Texas. The strategic location near the Samsung chipmaking plant adds further value to the development, attracting potential tenants seeking convenient proximity to job opportunities. With the incorporation of smart home technology, the townhomes are expected to offer a modern and comfortable living experience for residents.