Preston Hollow Community Capital (PHCC) has closed a $185 million tax-exempt bond financing related to the development of a new build-to-rent residential community known as Los Cielos, in partnership with the Brooks Development Authority, located in San Antonio.
Los Cielos covers approximately 70 acres on the Brooks campus and will feature 492 for-rent, single-family homes, each with an attached two-car garage and a backyard. Neighborhood highlights include an amenity center, a working center, a pool, gathering areas, a dog park and pickleball courts.
“Preston Hollow is pleased to grow our investment across the Brooks community and strengthen our partnership with the Brooks Development Authority,” said Ramiro Albarran, co-head of originations at Preston Hollow Community Capital. “This financial solution aligns with our community development mission by providing newly constructed, sustainable infrastructure and safe residential rental homes, amenities, and recreat
