CBRE arranged financing for Citadel Urban, a 181-unit multifamily community in the Westover Hills submarket of San Antonio, Texas.
CBRE’s John Fenoglio and Brock Hudson with the firm’s Capital Markets Debt & Structured Finance team in Houston arranged the loan on behalf of the borrower and sponsor, Cambridge Development Group. Loan proceeds were used to retire existing construction financing.
The financing structure provided a high-leverage bridge loan with full-term interest-only payments and competitive pricing, providing flexibility as the asset continues to stabilize.
Cambridge Development Group, a Houston-based firm with more than five decades of experience, has delivered over 12,000 multifamily units and is known for its integrated development approach.
Citadel Urban was completed in 2024 and consists of two three-story residential buildings situated on approximately 5.5 acres. The community offers a mix of one-, two- and three-bedroom units with modern finishes and a full suite of amenities. The property was nearly 90% leased as of early 2026.
The property is in Southwest San Antonio, and benefits from proximity to major employment centers, including Joint Base San Antonio, Port San Antonio and the NSA Texas Cryptology Center. The surrounding submarket continues to see steady population growth and limited near-term new supply, supporting ongoing demand for high-quality housing.
