The Empire Group of Cos. has received a $47.4 million construction loan for Village at Mayfair, a 217-unit build-to-rent project in New Braunfels, Texas. Arbor Realty Trust originated the non-recourse loan, public records show.
Tower Capital arranged the financing in its 12th collaboration with Empire Group. One of their previous deals involved the $72.9 million financing for the Village at Golden Triangle, a 317-unit single-family rental in Fort Worth, Texas.
