LOS ANGELES, CA (February 10, 2016) – Canyon Partners Real Estate LLC (“Canyon”), a commercial real estate investment firm, completed three preferred equity investments in the fourth quarter of 2015, totaling $29.4 million to develop mixed use, apartment and student housing properties in Arlington, Plano and San Antonio, Texas. The investments provide equity for developments located in markets with good proximity to retail, leisure, commercial and transportation amenities. These investments are representative of Canyon’s focus on providing transitional capital to experienced sponsors to facilitate the acquisition of properties for development, value-add repositioning and recapitalization.
The three investments closed included:
-An equity investment of $11.7 million in a joint venture with affiliates of Catalyst Urban Development and LandPlan to fund the construction of The Huntington, a luxury 320-unit multifamily property in Plano, TX. The site is less than a quarter mile from Legacy Business Park, a 2,655-acre master-planned, Class A office development, which serves as the world or regional headquarters for many Fortune 500 companies. Plano, which is located 24 miles north of downtown Dallas, has one of the highest concentrations of large corporate tenants in the southwestern US.
-An equity investment of $7.6 million in a joint venture with affiliates of Catalyst Urban Development and LandPlan to fund the development of 101 Center, a mixed-use student housing community in Arlington, TX. The project includes 244-units (493 beds) with high-end finishes and Class A amenities, 18,412 sf of ground floor retail with 90 parking spaces and a 600-space garage. The project is situated on a full city block downtown, less than 2 blocks from The University of Texas at Arlington.
-A preferred equity investment of $10.1 million in a joint venture with an affiliate of the NRP Group to fund the development of Cresta Bella 2, a luxury 322-unit apartment community in San Antonio, TX. The project’s amenities will include a clubhouse with a 24-hour fitness center, an outdoor pool and a dog park. It is the second multifamily component at Cresta Bella, a master-planned development on over 16 acres in the Northwest Side, one of the most affluent and fastest growing neighborhoods in the San Antonio metropolitan area.
Canyon has a long track record of deploying debt and equity capital in the Texas markets, having invested over $300 million of capital in Texas over the last decade.
To contact Canyon regarding new debt or equity opportunities across the US, please visit our website www.canyonpartnersrealestate.com for our regional contact information or call our main office at 310-272-1500.
About Canyon Partners Real Estate LLC
Canyon Partners Real Estate LLC (Canyon) is the real estate direct investing arm of Canyon Partners, LLC. Canyon focuses on providing debt and equity capital for commercial real estate in primary and secondary markets across the U.S., primarily to facilitate asset acquisition, value-add repositioning, development or recapitalization. Since inception, Canyon has invested over $6.0 billion of capital in over 230 commercial real estate and mortgage transactions with a total capitalization of $15.8 billion through its distinct real estate investment platforms.
Founded in 1990, Canyon Partners, LLC is an investment management firm headquartered in Los Angeles which, together with its affiliates, manages over $23 billion of assets. For more information visit: www.canyonpartners.com.
(914) 686 5599