Trez Capital announced the funding of a $8.7 million acquisition and development loan for Provident Realty Advisors’ new project, Debbie Lane Flats, a 331-unit multifamily community in south Arlington, Texas. The 17-acre development will include a large community center with fitness center and swimming pool and large dog park.
“We’re pleased to close our third transaction with Provident Realty Advisors, and we are confident their newest multifamily development will attract families and young professionals alike,” said Grant Morrow, vice president of origination for Trez Capital, Central & Southwestern U.S. “Arlington’s population is booming, especially as an entertainment destination, and the city has a lot of opportunity for new developments like Debbie Lane Flats.”
Debbie Lane Flats is a Class A apartment community located within the boundaries of the highly desirable Mansfield ISD area. Residents will also enjoy convenient access to nearby employment centers as well as the thriving entertainment options within Arlington’s core entertainment district. The new community is slated to open in 2021.