FINANCED
Journeyman Group Secures $49M Construction Loan For The Matador Affordable Housing Project In Austin
5900 South Congress Avenue
Development Site
Financed 339 days ago
Summary
Loan
TEXAS
Development Site
The Matador, a 285-unit affordable housing project in South Austin, is being developed by Journeyman Group. The development site is located at 5900 South Congress Avenue and spans 3.3 acres. The project aims to provide much-needed housing options for the community.
Summary of transaction details
- Property Type: Development Site
- Address: 5900 South Congress Avenue
- Market: Austin
- Loan Amount: $49,000,000
- Loan Type: Construction Loan
The financing for The Matador project was secured through a $49 million construction loan. The loan was provided by University Federal Credit Union (UFCU), with Brad Russell and Jason Qunell representing the lender. Journeyman Group, led by Ross Hamilton, serves as the landlord for this development.
Note: The construction loan for The Matador was sourced from seven credit unions, with UFCU leading the financing deal. The loan will support the development of the 285-unit affordable housing project in South Austin.
Players
Details
FINANCED
IMAGE: Ross Hamilton
DATE: 06/13/2023
ADDRESS: 5900 South Congress Avenue
MARKET: Austin
ASSET TYPE: Development Site ~ ACRES: 3.3
LENDER: University Federal Credit Union - Brad Russell & Jason Qunell
LANDLORD: Journeyman Group (@JourneymanGroup)- Ross Hamilton
LOAN AMOUNT: $49,000,000
LOAN TYPE: Construction Loan
NOTE: Journeyman Group is developing The Matador, a 285-unit affordable housing project in South Austin. The multifamily developer secured a $49 million construction loan from seven credit unions, led by University Federal Credit Union (UFCU).View on map
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Address5900 South Congress Avenue
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