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Flournoy Properties secures $46.5M refi for River Junction apartments
The River Junction project, completed in 2024, totals 329 units plus 17 townhomes.
Flournoy Properties has closed on a $46.5 million refinancing for the River Junction apartments in Leander, according to ConnectCRE.
The 2024-completed community includes 329 units, along with 17 townhomes across 15 residential buildings offering one-, two-, and three-bedroom floor plans, the outlet said. Amenities include a pool, fitness center, clubhouse, coworking space, pet park, BBQ areas, and detached garages and carports.
Bridge Investment Group provided the loan, and Walker & Dunlop Capital Markets Real Estate Finance, led by Patrick Short and Clay Colvill, arranged the floating-rate, interest-only bridge financing, ConnectCRE reported.
The property at 116 Talon Grasp Trail is expected to benefit from improving demand as occupancy accelerates, supported by employment growth tied to the semiconductor industry and data center development, the outlet added.