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Matthew Rieger Of Housing Trust Group Secures $33.8 Million Loan For Affordable Housing In Houston

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FINANCED
$33,800,000

Texas

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Development Site
Financed 02/20/2025
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FINANCED

Matthew Rieger Of Housing Trust Group Secures $33.8 Million Loan For Affordable Housing In Houston

800 South Highway 6

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Development Site
Financed 02/20/2025
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Development Site
Transaction Type:Loan

The Rushmore is a 101-unit affordable housing project located at 800 South Highway 6 in Houston's Energy Corridor. This development site has secured a loan amount of $33,800,000 for the construction of mixed-income units with rents ranging from $532 to $1,875.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $33,800,000
  • Lender: Citi Community Capital & Raymond James
  • Landlord: Matthew Rieger - Housing Trust Group (HTG)
  • Market: Houston

Housing Trust Group (HTG) has initiated the project, with financing sourced from Citi Community Capital and Low-Income Housing Tax Credit (LIHTC) credits provided by Raymond James. This financing supports the development of affordable housing in a key location within the city.

Players

Raymond James
Raymond James
LENDER
Citibank
Citibank
LENDER

Details

FINANCED
IMAGE: Matthew Rieger DATE: 02/20/2025 ADDRESS: 800 South Highway 6 MARKET: Houston ASSET TYPE: Development Site LENDER: Citi Community Capital & Raymond James LANDLORD: Matthew Rieger (@RiegerMa) - Housing Trust Group (HTG) (@HousingTrustGroup) LOAN AMOUNT: $33,800,000 NOTE: Housing Trust Group (HTG) secured $33.8 million in financing and broke ground on The Rushmore, a 101-unit affordable housing project in Houston’s Energy Corridor. The project, funded by Citi Community Capital and LIHTC credits from Raymond James, will offer mixed-income units with rents from $532 to $1,875. #

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$33,800,000.00

Monthly NOI$225,333.33
Monthly Debt Service$213,638.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00