January 14, 2021
Dallas-based HALL Structured Financing (HSF) closed a brand-new first-lien construction lending totaling $15.5 million to finance the development of a 144-unit apartment building in Gregory, 10 miles outside Corpus Christi. The job developer is Tim Torno with Torno Characteristic, LLC and also his LP partner Cleburne Oaks General Practitioner.
“We expect this apartment building to load a void in the neighborhood and be a home that will thrive in this expanding market,” said Mike Paynes, head of state of HSF.
The complex will consist of 7 three-story garden-style structures including stainless-steel devices, granite countertops, wood cabinets, walk-in storage rooms, and in-unit storage. Most will have their own private patios.
The immediate area is currently experiencing billions of bucks of investments in industrial development with facilities such as the brand-new ExxonMobil plant, expected to be finished in 2022.
Elad Dattelkramer, co-founder of ARC Israel, sourced the financing for the job.
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