Tower Capital Arranges $47.4 Million Construction Loan for Build-to-Rent Development in New Braunfels, Texas

by Channing Hamilton

NEW BRAUNFELS, TEXAS — Tower Capital has arranged a $47.4 million construction loan for the development of Village at Mayfair, a 217-unit build-to-rent project in the San Antonio suburb of New Braunfels. The non-recourse loan features a three-year term. The community will span 20 acres and offer amenities such as a fitness center, car care station, BBQ grills, and central pool and clubhouse. Units will average 1,023 square feet and include private yards or patios. A construction timeline for the project was not disclosed.

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