SEGUIN, TEXAS — A joint venture between Periscope Capital Investment and Verdot Capital has secured $32.1 million in construction financing for The Virginia, a 198-unit development in the western San Antonio suburb of Seguin. Alanna Ellis, Jeff Lepley and Alex Sheaffer of JLL Capital Markets represented the venture in acquiring the 15-year, floating-rate loan through an undisclosed regional bank.
The Virginia will rise three stories and offer one-, two- and three-bedroom units. The first phase of the community is scheduled for completion in 2024. A second phase is set to deliver in 2025, which will bring the total units at the community to 424.