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**Z Modular Secures $62.3M Refinance for Flatz 512 in San Marcos, TX**
Castle Lanterra (CL), in partnership with InterVest Capital Partners (ICP), has finalized a $62.3 million senior bridge loan for modular construction firm Z Modular. The financing is for Flatz 512, a newly built multifamily community located in San Marcos, Texas.
Flatz 512 features 384 modern apartment units and offers a variety of layouts including studio, one-, two-, and three-bedroom residences. Conveniently situated between Austin and San Antonio in the rapidly growing I-35 innovation corridor, the community is well-positioned to benefit from the region’s robust job market and continuing population growth.
Constructed using Z Modular’s innovative building system, approximately 90% of each unit is pre-fabricated off-site at the company’s manufacturing facilities before being transported for final on-site assembly. This approach is designed to reduce both construction time and overall development costs.
Castle Lanterra launched its credit platform in 2023, targeting senior bridge loans, mezzanine financing, and preferred equity investments. Including this transaction and a previous deal with ICP, Castle Lanterra has completed a total of $101.3 million in credit investments since the platform’s inception.
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