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Justin Webb Of Altura Homes Secures $53.9M Refinance Loan For 287-Unit BTR Community In Terrell

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FINANCED
$53,900,000

Texas

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MultiFamily
Financed 05/28/2025
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FINANCED

Justin Webb Of Altura Homes Secures $53.9M Refinance Loan For 287-Unit BTR Community In Terrell

108 Fairmeade Drive

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MultiFamily
Financed 05/28/2025
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Loan

108 Fairmeade Drive is a 287-unit build to rent community located in Terrell, Texas. The property was involved in a refinancing transaction with a loan amount totaling $53,900,000.

Summary of transation details:

  • Property Type: Build to Rent
  • Transaction Amount: $53,900,000
  • Market: Terrell
  • Lender: Jaime Arouh - LendingOne
  • Landlord: Justin Webb - Altura Homes
  • Broker: Sam Tarter - JLL
  • Loan Type: Refinance
  • Units: 287

JLL arranged the financing for Altura Homes to refinance the Woodlands Terrell community, which enabled the transition from existing construction financing to a senior loan provided by LendingOne.

Players

ST
JLL
Sam Tarter
3 deals$119.9M volume
BROKER

Details

FINANCED
IMAGE: Justin Webb, Sam Tarter & Jaime Arouh DATE: 5/29/2025 ADDRESS: 108 Fairmeade Drive MARKET: Terrell ASSET TYPE: Build to Rent ~ UNITS: 287 LENDER: Jaime Arouh - LendingOne (@Lending_One) LANDLORD: Justin Webb - Altura Homes BROKER: Sam Tarter - JLL (@JLL) LOAN AMOUNT: $53,900,000 LOAN TYPE: Refinance NOTE FROM BROKER: JLL arranged financing on behalf of Altura Homes to refinance Woodlands Terrell, a 287-unit BTR community in Terrell, Texas. LendingOne provided a $53.9M senior loan to refinance the existing construction financing.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$53,900,000.00

Monthly NOI$359,333.33
Monthly Debt Service$340,684.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00