Q10 KDH Closes $28MM Construction Loan for Multifamily Property

Q10 KDH Vice President Ryan Watson secured a $28,000,000 construction loan for Dhanani Private Equity Group. The loan was secured with a regional bank and has 3 years of interest only payments with decreasing levels of recourse to the Sponsor. Dhanani Private Equity Group is constructing a 288-unit, class-A, multifamily project on the west side of Houston, TX. The property’s name will be The Territory at Greenhouse and will have full amenities for new residents, including a resort-style pool, fitness center, business center, and dog park.

“The Sponsor is a well-known retail and hotel developer in Houston and was able to secure the land a few years ago,” Ryan said. “Given their development experience, they were able to assemble an outstanding team to design and construct the project. We feel that new community will be accretive to the area and offer a level of amenities that no other community in the area has.”