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Izo Capital backs $25.6M construction loan for 64-unit Wyoming apartments
The 24-month senior loan funds Phase 1 completion of The Flats at Alpine Junction and sets up additional buildings totaling 160 units.
Commercial Observer reports that Sundance Properties has secured $25.6 million in construction financing for a multifamily development in Alpine, Wyoming, The Flats at Alpine Junction.
Izo Capital provided a 24-month senior construction loan to complete Phase 1, which includes 64 units. The financing will also support three additional buildings totaling 48 apartments, on top of 16 units already completed and leased.
Developer Sundance Properties said the overall project will ultimately reach 160 units, with Phase 1 slated for completion next spring. Izo Capital co-founder and chief investment officer Peter Porraro attributed the funding to limited apartment supply near Jackson Hole and pointed to demand drivers including a newly opened medical center and a public charter school scheduled to open in the 2026 to 2027 academic year.
Porraro added that the project at 303 Highway benefits from transportation connectivity, including direct access to the START Bus system linking Alpine and Jackson. Ken Cady, principal of Sundance Properties, said the financing enables delivery of rental homes intended to offer a more attainable option for workers in the greater Jackson region.