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Huntington Properties moves ahead with $47M Katy apartment financing
The HUD 221(d)(4) loan includes a 24-month interest-only period before a 40-year amortization schedule.
Huntington Properties has secured construction financing for The Vic at Sunterra, a 279-unit multifamily development in Katy, according to ConnectCRE.
The project is backed by a $47 million HUD 221(d)(4) non-recourse loan, which provides a high loan-to-cost ratio and substantial proceeds.
ConnectCRE reports the debt structure starts with a 24-month interest-only period, followed by a fully amortizing 40-year term designed to support longer-term stability and predictable debt service after construction.
The outlet says the financing was originated by Dwight Capital’s David Scheer and Andrew Tichy, and the development site spans more than 10 acres within the Sunterra master-planned community.