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March 23, 2019
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DeBartolo Refinances New San Antonio Res Project with $58 Mil Bridge Loan

3/13/19

DeBartolo Development has obtained $58.4 mil in bridge on Infinity at the Rim apartments, a new 310-unit multifamily project in San Antonio. The loan, arranged by Greystone, will enable DeBartolo to pay off the initial construction loan and preferred equity.

Infinity at the Rim offers convenient access to San Antonio’s employment centers, shopping and schools. The new financing will also enable the borrower to implement Amazon’s co-branding program in the project’s well-appointed one-, two- and three-bedroom units. Each apartment has smart home technology from Amazon, including: Nest thermostat, Amazon Alexa technology, hardware, voice recognition and smart outlets. Infinity residents receive a one-year subscription to Amazon Prime and can access Amazon locker services for package retrieval.

The property also features resort-style amenities, including a pool, clubhouse and demo kitchen, cybercafé, visual sports room, an onsite car wash, dry cleaner drop-off and onsite parking. The property is located along the west line of Talverna Ridge, in “the Rim,” an 800-acre urbanist mixed-use development.

Greystone’s Jeff Englund arranged the financing. Greystone is currently working to secure a low, fixed-rate permanent agency loan on the property for the borrower.




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