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Anthem Development Lands $63 Mil in Joint Venture Equity and Debt for TX Res Development

2/01/23

Anthem Development has obtained $63 mil of joint venture equity and debt for the acquisition and development of Lofts iThirty, a planned 340-unit luxury multifamily property located on 10.4 acres at the Northwest corner of Broadway and Interstate 30 in Garland, TX, one of the most active submarkets in the Dallas-Fort Worth metroplex.

Los Angeles-based Nova Capital arranged the financing on behalf of Anthem. They secured the co-investment from an institutional joint venture equity partner with over $6 bil in capital under management and a debt facility with Bank OZK.

Lofts iThirty will feature five, four-story buildings with community amenities including two resort style pools, pet spa, pet park, game room, coffee bar, remote work lounge, outdoor kitchens, two 24-hour fitness centers totaling over 3.5k sf, elevator access, and climate-controlled corridors and more.

The community is conveniently located adjacent to Interstate 30, providing residents with convenient access to neighboring communities. Additionally, Lofts iThirty is designed to be pedestrian-friendly and is within walking distance of a variety of shopping, dining, and entertainment options, and will offer short commutes to major employers.

Anthem Development, a Beck Ventures Company, is set to break ground this month with completion scheduled for 2025.





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