Williams Group Lands $59M Refi for Texas Community
Proceeds retire existing debt from the same lender.
Williams Group has secured $58.6 million for the refinancing of Residences at Town Square, a 480-unit community in Amarillo, Texas. Dwight Capital provided the HUD 223(f) note.
Proceeds retire existing debt, a $60 million loan also originated by Dwight Capital in 2021, according to Yardi Matrix data.
Additionally, part of the financing will be used for energy-efficient enhancements. The loan qualifies for a Green Mortgage Insurance Premium reduction of 25 basis points, as the property is aiming to achieve a National Green Building Standard Bronze certification.
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Residences at Town Square comprises four five-story buildings with one-, two- and three-bedroom floorplans ranging from 722 to 1,541 square feet. The property also includes some 121,360 square feet of ground-floor commercial space.
Apartments have stainless steel appliances and granite countertops, while select layouts feature private balconies. Common-area amenities include a swimming pool, bike storage and a playground.
Located at 9181 Town Square Blvd., the community is roughly 10 miles from downtown Amarillo and some 18 miles from Rick Husband Amarillo International Airport. Residences at Town Square is adjacent to a golf lounge and within walking distance of various retail options.
Dwight Capital Vice President Daniel Malka originated the transaction and Greysteel Senior Managing Director Daniel Hartnett acted as correspondent.
