Rental Fundamentals Drive Trez Capital’s $32M Austonio Loan
Rastegar Property Company has secured $31.7 million in construction financing from Trez Capital to commence the first phase of Infinity Square, a 318-acre master-planned community in Kyle, Texas, featuring single-family homes, apartments, commercial space, and an elementary school.
Originally Published in The Real Deal
Published on: July 31, 2024
With strong rental fundamentals in the region, Rastegar Property Company’s Kyle master-planned community can now move forward with construction
An Austin real estate investor has secured funding to launch the first phase of an ambitious master-planned community in Kyle.
Ari Rastegar’s Rastegar Property Company scored $31.7 million in construction financing from Trez Capital to kickstart Infinity Square, a 318-acre master-planned community located between Austin and San Antonio, Commercial Observer reported.
The funding means Rastegar can start the project’s first phase, which includes 329 home lots at 700-800 Bunton Lane, about 20 minutes south of Downtown Austin and 45 minutes northeast of San Antonio. Infinity Square will ultimately have 1,000 single-family homes, 1,400 apartments, 185,000 square feet of commercial space and an elementary school.
The loan is a feat amid a difficult lending environment. But the region’s strong rental fundamentals, along with investments in the area from companies like Samsung and SpaceX, gave the lender confidence in the project.
“We look to do loans in cities that have high population growth and high job growth,” Trez Capital’s John Hutchinson said.
