EBSC Lending Arranges $41.0 Million Refinance for 203-Unit Class A Multifamily Community in Georgetown, Texas.
- Elite Business Service, LLC. Nationwide Private Lender
- 21 hours ago
- 3 min read
GEORGETOWN, TX — EBSC Lending has arranged a $41.0 million refinancing for a 203-unit, Class A, mid-rise multifamily community located in Georgetown, Texas, within the greater Austin metropolitan area. The refinancing delivers a stabilized, long-term capital structure for the sponsor and replaces the original construction financing.
Transaction Overview
The refinance featured a forward-rate lock and interest-only amortization, providing certainty of execution and predictable debt service. Loan proceeds were used to refinance the original construction loan provided by a bank, which the borrower used to develop the community beginning in 2022.
Commenting on the transaction, David Palmer, Vice President – Special Assets at EBSC Lending, stated, “We were proud to partner with the sponsor to complete this refinance. This was the sponsor’s first agency deal and first multifamily project in over two decades, and we were humbled to be selected as their partner in this undertaking. With the new structure in place, the asset is well-positioned to benefit from private financing for years to come.”
The community was built in 2019 and offers a mix of studio, one-bedroom, and two-bedroom residences averaging 775 square feet. Units feature modern finishes and a strong in-unit amenity package, including full-size washers and dryers, private balconies, underground parking, and bike storage. The property is currently 96% occupied, reflecting strong market demand.
Resident amenities include a 3,500-square-foot landscaped courtyard with lounge seating, an outdoor swimming pool and spa, grilling and outdoor dining areas, a fitness center and yoga studio, a club room with gaming area and bar, and a rooftop sky lounge featuring an outdoor kitchen and cocktail station.
The sponsor, Robert Sheridan, added, “We appreciate EBSC Lending’s partnership and guidance throughout this process. This refinance represents an important milestone for our team, and the forward-rate lock and interest-only structure provided the certainty and flexibility we were seeking. We’re excited to continue executing our business plan and investing in the community for the long term.”
Following the refinance, the ownership group plans to implement a targeted property improvement plan, including interior unit refreshes and updates, to enhance tenant experience and support long-term value creation. Additional unit features include high-speed internet capability, washer/dryer hookups, air conditioning and heating, cable-ready connections, security systems, tub/shower combinations, sprinkler systems, and wheelchair-accessible layouts.
Market Context + What It Means
The greater Austin metro continues to benefit from population growth, employment expansion, and sustained renter demand, supporting strong performance for Class A multifamily assets in suburban submarkets such as Georgetown.
Refinancing stabilized multifamily properties with forward-rate locks and interest-only structures allows owners to reduce interest-rate risk while preserving cash flow and flexibility for capital improvements. Lenders capable of guiding sponsors through agency-style executions and long-term refinancing play a key role in transitioning assets from construction to durable operations.
By arranging a $41.0 million refinance, EBSC Lending enabled the sponsor to replace construction debt with a stable capital structure and position the property for continued performance in a high-growth Texas market.
Frequently Asked Questions
What type of financing did EBSC Lending provide?
EBSC Lending arranged a $41.0 million refinance for a Class A multifamily community.
How is the loan structured?
The refinance includes a forward-rate lock and interest-only amortization, delivering long-term stability.
What are the key features of the property?
The property includes 203 units, extensive indoor and outdoor amenities, and is 96% occupied.
What types of multifamily assets does EBSC Lending finance?
EBSC Lending finances construction, refinance, bridge, and permanent loans for multifamily and mixed-use assets nationwide.
Related EBSC Lending Financing Programs
EBSC Lending provides flexible private capital solutions across the United States, including:
Multifamily Refinance Loans – Stabilized and transitional assets
Permanent & Structured Loans – Long-term capital solutions
Commercial Bridge Loans – Short-term financing for complex transactions
Press release syndication (MultifamilyBiz): EBSC Lending Arranges $41 Million Refinance for 203-Unit Class A Multifamily Community in Austin Metropolitan Market of Georgetown
