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8/24/16
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Lincoln Ventures has obtained a $14.5 mil construction loan for development of The Ruckus, a 42-unit and 167-bed student housing project in the West Campus area of the University of Texas. The loan was arranged by El Segundo based Highland Realty Capital, in partnership with WPC Realty, and funded through Dallas based ORIX RE Holdings, an affiliate of ORIX USA Corporation.
The project is located at 2502 Nueces, two blocks from the U of T campus. The seven-story building will have modern amenities and finishes, and will feature underground gated parking, secure access, a rooftop terrace, a cyber cafe, sky gym, study lounges and Google Fiber.
This will be Lincoln Ventures’ largest development to date. The company currently handles 3,000 student leases annually at UT thru its management company, Fairway Properties.
“Lincoln Ventures had tied up the property the previous summer and had created a lot of value thru the entitlement process which enabled them to obtain a high-LTC, non-recourse loan,” explains Mike Guterman from HRC, who along with John Ghiselli, sourced the loan.
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