Resia Secures Financing for Its 2nd DFW Project
The project is scheduled to be completed in 2023.
Resia, formerly AHS Residential, has secured financing for its second development in the Dallas-Fort Worth area, a 322-unit multifamily community in Denton. Regions Bank provided the construction loan for the project, which broke ground in the first quarter of this year and is expected to be completed in the second quarter of 2023.
Rayzor Ranch will be located at 3130 Heritage Trail and will include two seven-story buildings, offering one-, two- and three-bedroom units equipped with stainless steel appliances, in-unit laundry and modern finishes. Common-area amenities will include a business center, a fitness center, a multipurpose clubhouse with a swimming pool and designated parking spots.
The new community will be situated close to Interstate 35, 2 miles from the University of North Texas, 3.2 miles from Denton Enterprise Airport and 3.5 miles from the city’s historic downtown. The project is across Texas Health Presbyterian Hospital, one of the area’s major employers, close to retail availabilities, such as Rayzor Ranch Town Center, and some of the area’s attractions, like Campus Theatre or Explorium Children’s Museum.
Resia plans to deliver 8,000 new units per year by 2025. Earlier this week, the company announced it had received $60 million in financing for a 476-unit multifamily development in Atlanta, expected to be delivered in the third quarter of 2023.
In July, another Resia project landed $60 million in financing. Resia Old Cutler, a 390-unit multifamily project in Miami, received a loan provided by PNC Bank.