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Core Spaces and Harrison Street refinance 408-unit BTR in Princeton, Texas
The refinancing note retires a prior $86 million construction loan from Western Alliance Bank issued in 2023.
ConnectCRE reports that a joint venture between Core Spaces and Harrison Street Asset Management closed on a refinancing for a 408-unit build-to-rent community in Princeton, Texas.
Multifamily News said the new note repays a previous $86 million construction loan issued by Western Alliance Bank in 2023, with Newmark’s Jonathan Firestone, Blake Thompson, Clint Frease, Travis Bailey, and Josh Francis securing the financing provided by GID.
The community, Oxenfree Princeton, sits along the U.S. 380 corridor in North Dallas, combining townhomes and detached single-family homes, with two- to four-bedroom floorplans averaging 1,572 square feet.