A joint venture between Pelican Builders and Ember Group announced it secured a $111 million first mortgage condo inventory loan for The Hawthorne, a high-end 17-story residential condominium tower totaling 67 units and a wide range of amenities located in the upscale Tanglewood neighborhood of Houston.
Northwind Group provided the loan through its closed-end debt funds. CBRE arranged the financing.
Northwind Group provided the loan with competitive terms that will provide the sponsorship with the required capital and time to complete the project and sell the remaining unsold units.
