Resia has closed on construction financing for a 573-unit apartment community located in the city of Houston, Texas. Santander Bank led the senior financing with Valley Bank participating, and Artemis Real Estate Partners provided preferred equity. The total financing amounted to $96.5 million for the project, which is one of several brand-new Resia developments as the company continues to develop throughout Texas, Georgia, and Florida. The project broke ground in the Q2 of 2022, is expected to begin leasing in Q4 of 2023, and be fully delivered by Q2 of 2024.
Located directly across from the Houston Methodist West Hospital, Resia Ten Oaks will deliver 573 units across three 12-story high-rise buildings. Resia Ten Oaks will offer one-bedroom, two-bedroom, and three-bedroom floor plans. Apartments will feature modern finishes, stainless steel appliances, and in-unit laundry. Built with young professionals and families in mind, Resia Ten Oak’s well-designed amenities include assigned parking, a business center, and a multipurpose clubhouse complete with a swimming pool and fitness center.