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Commercial real estate investment bank Eyzenberg & Company has arranged senior debt financing for the development of two sites to meet demand for last-mile distribution and single-family housing in Texas.
Acting on behalf of Austin, Texas-based Rastegar Property Company LLC, Eyzenberg director Ronald Granite, with analyst Elena Burgos, arranged a new $4.6 million senior fixed-rate loan from a regional insurance company.
The financing will partially fund pre-development costs for two land parcels located at 11708 McAngus Road in Austin, and 700 Bunton Lane in nearby Kyle, Texas.
“The sites are located within one of the fastest-growing economic and residential areas of Texas where national tech giants have been devouring real estate at a rapid clip,” said Granite. “We were able to achieve higher than average leverage for this asset type as lenders’ interest in the Austin market remains very strong. Favorable financing terms are accessible with the right location, ....

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