ACRE Announces Closing of $111M in Loans for Two Multifamily Properties in Pflugerville, Texas
ACRE, a global real estate private equity firm, today announced it has finalized two loans totaling $111 million with TerraCap Management, LLC (“TerraCap”), to support two multifamily properties in Pflugerville, Texas.
- ACRE, a global real estate private equity firm, today announced it has finalized two loans totaling $111 million with TerraCap Management, LLC (“TerraCap”), to support two multifamily properties in Pflugerville, Texas.
- View the full release here: https://www.businesswire.com/news/home/20230130005149/en/
'The Beacon at Pfluger Farm', a 258-unit multifamily development in Pflugerville, Texas. - (Photo: Business Wire)
Issued through ACRE’s debt fund ‘ACRE Credit I,’ the loans will aid in TerraCap’s purchase of newly-built properties ‘The Dalton’ and ‘The Beacon at Pfluger Farm’, comprising 350 and 258 units, respectively. - “We’re thrilled to announce the closing of these loans, which represent the inaugural partnership between ACRE and TerraCap.