Trez Capital has successfully secured a $29.4 million construction loan for Austin-based developer JLM Living to fund the development of The Eleanor Rio Rancho Cabezon, a build-to-rent community. Located at 2300 Westside Blvd. SE in the desirable Cabezon neighborhood near Village at Rio Rancho and Presbyterian Rust Medical Center, this property spans over 10 acres and will consist of 126 single-family and duplex homes ranging from 650 to 1,500 square feet.
The homes will feature attached garages and scenic views for every unit, while residents can also enjoy an upscale amenity center with separate clubhouse and fitness buildings, as well as a pool and common green spaces.
Construction is set to begin in summer of next year with the first phase consisting of 30 units expected to be completed by summer of2025. The entire project is slated for completion by2026.
Trez Capital specializes in providing private financing options for property developers seeking funds for various purposes such as acquisition, refinancing,and vertical or horizontal development projects on properties that align with their investment strategy.
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