HMF Americana Secures $113.5M Loan For Development Sites In Tomball And Simpsonville

The asset involved in this transaction is a development site located at Highway 249 & Brown-Hufsmith Road & 533 New Harrison Bridge Road, situated in the markets of Tomball, Texas, and Simpsonville, South Carolina. HMF Americana is undertaking the construction of two Cottage Green build-to-rent communities, with a total of 575 units being developed on this site.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $113,500,000
• Lender: Adam Domanico - Siguler Guff & Co.
• Lender: Richard J. Byrne - Benefit Street Partners
• Landlord: HMF Americana
• Broker: Sterling Realty Capital
• Loan Type: Construction
• Loan Terms: 18-month
• Senior Note: $83.8M
• B-piece: $29.7M
• Extension Options: Two six-month options

The financing arrangement, secured by HMF Americana, was facilitated by Sterling Realty Capital. The loan structure includes a senior note for $83.8 million and a B-piece amounting to $29.7 million, providing the necessary capital for the development project.