Trez Capital commits $33m to multifamily project in Austin
Trez Capital has closed a $33.3 million equity investment in partnership with Thompson Realty Capital for the development of a garden-style multi-family project in Austin.
The project has a total development cost of $100 million, a key addition to the company’s development fund, the Trez Capital Private Real Estate Fund Trust (TPREF).
The Larkspur project is located in the Liberty Hill and Leander extraterritorial jurisdiction (ETJ) on the north side of Leander, one of north Austin’s fastest-growing suburbs. This project is an example of Trez Capital’s joint-venture partnership program, which provides experienced developers with equity financing for value-add and ground-up developments in key markets with strong population, employment and GDP growth.
The project will be a two-phase development containing 504-unit garden-style apartments with a first-class leasing office, amenity center and resort-style pool. The project design will incorporate the natura