Dwight Capital closed a $53 million HUD-insured 221(d)(4) construction loan for The Lariat, a 312-unit luxury apartment community in Amarillo, TX. This transaction was originated by Dwight’s Brandon Baksh and Tommy Ng on behalf of the borrower, Martin Inderman Development.
The development will comprise 13 three-story residential buildings, a clubhouse and leasing center, and six garages, all situated on 13.5 acres.Â
The project will feature four floor plans, including 186 one-bedroom and 126 two-bedroom units. Community amenities will include a pool, clubhouse, outdoor courtyard, gated entry/exit, detached garages, EV charging stations, storage units, a dog park, and a wash station. Apartment interiors will feature nine-foot ceilings, private patios/balconies, pendant lighting, and stainless-steel appliances.
This marks Martin Inderman’s second HUD-insured construction loan closing, and their first as a self-performing general contractor. The firm aims to leverage this capability to partner with other developers seeking experienced and reliable construction management.
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