New York lender provides $45.5 million for Denton apartment deal
Square Mile Capital funds Rayzor Ranch apartment buy.
The Village at Rayzor Ranch is near Interstate 35E.(Square Mile Capital )
A New York-based lender has provided $45.5 million in financing for the purchase of a Denton apartment community.
Square Mile Capital Management LLC made the loan for the purchase of the Village at Rayzor Ranch rental community near Interstate 35E.
The 300-unit apartment property was bought by Plano-based Seven Seas Holdings.
“The property is well-located and proximate to the Rayzor Ranch Town Center, the University of North Texas and the Denton Medical District,” Square Mile Capital principal Tom Burns said in a statement. “The property has performed well to date and will continue to benefit from its amenity base and its proximity to major local employers.”
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