Dealmaker: ORIX Real Estate Holdings Provides $40M Multifamily Construction Loan
ORIX Real Estate Holdings, Dallas, closed a $40 million construction loan that will be used to build a 263-unit mixed-use multifamily project with 31,000 square feet of ground-floor commercial space in Middleton, Wis.
With a Feb. 2021 completion expected, the property will include 263 units in two buildings with two general designs–standard one-floor apartments and two-story lofts. The developer plans to incorporate environmentally friendly amenities including solar photovoltaics, rainwater reuse and energy-saving lighting as well as efficient heating and water fixtures.
The unit mix includes 120 one-bedroom, 51 two-bedroom, 29 three-bedroom, 42 one-bedroom loft-style and 21 two-bedroom loft-style apartments. The commercial space will include a food hall in one building and six retail spaces in the other.
ORIX Real Estate Holdings Managing Director Ron Lawrie originated the transaction. He said to the new property will provide mixed-use multifamily housing in an area with increasing demand and constrained supply.