Trinsic Closes $50M Loan for 300-Unit Flower Mound Rental Community
Associated Bank announced the completion of a $50 million loan for Trinsic Residential Group for the construction of Aura Brookview, a Class A multi-family development in Flower Mound, Texas. The 10-acre community will be located within Brookview, a 240-acre master-planned community at the intersection of Cross Timbers Road and Highway 377. FlowerMound is approximately 35 miles north of the Dallas-Fort Worth metro area.
Aura Brookview will have 300 rental units within four 4-story, elevator-served, wood-framed apartment buildings. Common area amenities will include a clubhouse, co-working space, private pool with coveredpatio, grilling stations, fire pits, a dog park and dog washing stations, and secure parcel managementroom. Parking options include detached garages, in addition to surface parking.
Trinsic Residential Group develops multifamily projects providing development, construction and asset management for both high-end institutional garden-style properties and high-density urban communities in targeted regions nationwide.
Associated Bank’s Heath Davis managed the loan arrangements and closing.
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Brokers
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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
Lenders
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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