Austin Martin Of Martin Inderman Development Secures $66 Million Construction Loan For The Lariat In Abilene

The transaction involves a development site located on McKinley Drive in Abilene, TX, encompassing an area of 13 acres. The secured loan amount is $66 million specifically intended for construction, facilitating the development of The Lariat at Abilene, which is a 312-unit garden-style apartment project. This asset is part of an expanding portfolio of HUD-financed multifamily projects in Texas.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $66,000,000
• Address: McKinley Drive
• Market: Abilene, TX
• Asset Size: 13 acres
• Landlord: Austin Martin - Martin Inderman Development
• Originators: Brandon Baksh & Tommy Ng - Dwight Capital
• Loan Type: Construction

Austin Martin represents Martin Inderman Development, while Brandon Baksh and Tommy Ng represent Dwight Capital in this deal. The financing arranged through Dwight Capital is HUD-backed and specifically under the 221(d)(4) program, aimed at promoting the construction of multifamily housing.