Tempo Capital Group Provides $42 Million Loan for a New Residential Build-To-Rent Development in the Woodlands/Conroe Submarket of Houston, Texas

Michael Berke, Founder of Tempo Capital, closes financing for the 45-acre, 287-unit project.

HOUSTON, May 10, 2022 /PRNewswire/ -- Tempo Capital, a national financier to homebuilders & residential land developers, arranged a $42 Million loan to a Texas based build-to-rent developer providing land acquisition, development & construction financing for a unique residential project.

The builder is acquiring 45 acres of vacant land to develop and construct a 287-unit rental housing multifamily community.  The residential horizontal development will feature single-level detached cottages, duplexes and two-story signature patio homes set in well designed tree lined boulevards.  Common areas will include a pool, fitness center and clubhouse.

"I'm excited to provide the developer funding for a truly innovative housing concept," said Berke.  "The different product types cater to attainable and diverse housing needs all within a single, well-managed, amenitized community. Our client has a successful track record developing such communities and achieves strong demand for its product.  Market studies indicate lease-up to be 20 units per month with a projected completion of 18 months. The builder will stabilize then seek a disposition of the community. We value our relationship and continue to expand our footprint through satisfied borrowers." 

The horizontal multifamily rental market continues to demonstrate significant consumer demand in the Houston MSA and other markets nationally, as supply continues to lag.  "As build-to-rent continues its success, both builders and capital are finding creative ways to work together and achieve outstanding results."

Tempo Capital was able to secure a debt provider who was flexible enough to meet the needs of the borrower while customizing a non-recourse, cost effective financing package with prompt execution. 

About Tempo Capital Group
Chicago, IL - based Tempo Capital provides financing and growth capital to builders & developers nationally. Using its industry specific expertise and network, Tempo customizes debt and equity financing solutions for homebuilders and their projects.  Michael Berke, a recognized specialist in the area of homebuilder finance, was recently invited to speak at the International Builders Show 2022 in Orlando, his topic was "Today's Innovative Capital Trends For Builders & Developers."

For more information visit:  www.tempocapitalgroup.com     
Contact: [email protected]      

SOURCE Tempo Capital Group