Texas Group Inks Financing for 270-Unit Houston Affordable Rental Community
Texas Group has secured a $37 million first-lien construction loan for the development of Orem Circle Apartments, an affordable, Class A garden-style multifamily community in Houston. Asher Bittman of Sheridan Capital Partners arranged the loan on behalf of the borrower. HALL Structured Finance (HSF) provided the financing. Completion is slated for fall 2027. The project was a partnership with the Houston Housing Authority.
Orem Circle will consist of 270 residential units across six, three-story residential buildings, with an average unit size of 901 square feet. The community will feature amenities including a fitness center, swimming pool, business center, resident clubhouse, bike storage, and covered parking.
The project is located in South Houston within the South Acres–Crestmont Park submarket, an area experiencing strong population growth and increasing housing demand. Orem Circle is situated approximately 4.5 miles from Houston Hobby Airport.
Texas Group was established in 2015 and is headquartered in Houston.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout