Resia scored a $37.9 million refinancing for Resia Rayzor Ranch, a 322-unit community in Denton, Texas. ACRE was the lender, in a deal arranged by JLL Capital Markets.
Commercial Edge reports previous financing included a $41.8 million HUD section 223(f) loan, with a 6.28 percent interest rate, originated in 2023 by Colliers Mortgages. The maturity date was set for 2058.
JLL Capital Markets Jesse Wright, Philip Galligan and Lauren Dow led the debt advisory team that secured the financing on behalf of the borrower.
Completed in the second quarter of 2024, the community comprises two seven-story buildings across a 3-acre site. The residences have one- to three-bedroom floorplans ranging from 612 to 1,041 square feet. Shared amenities include a swimming pool, pickleball court, fitness center and grade-level parking area with almost 300 spaces.
Resia owns Resia Ten Oaks in Houston. Additionally, the company has one community under construction in Fort Worth, Texas and two more others in the planning stage throughout the state.
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