Transwestern has arranged construction financing for the Arabella, a 33-story luxury condominium tower in Houston on behalf of developer, Randall Davis of D.C. Partners.
“The Arabella will be one of the most luxurious residential towers in the city,” Michael Snodgrass, Transwestern’s managing director, structured finance, told Commercial Property Executive. “Some of the residences will have private elevator entrances and private swimming pools on the balconies. The penthouses will have 12-foot ceilings and heated floors in the master bathrooms.”
Arabella’s financing structure was comprised of numerous tranches of capital, including a first lien construction loan, mezzanine construction loan and multiple EB-5 investors, along with local and international equity partners.
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