Seminole Financial Services, LLC (“Seminole”) announced today the closing of an $11.7 million investment with Investment Builders, Inc. for the development of a 152-unit multifamily project, known as North Hills Village, located in El Paso, Texas.
The investment will replace the existing indebtedness on the completed Phase I of the project, and provide financing to construct Phase II of this Class A market rate project.
For information about this and other financing, please contact Ron Campbell, Executive Vice President for Seminole Financial Services, at (727) 331-8441 or at email@example.com.
Seminole Financial Services, LLC (SFS) is the operating entity of the six companies that collectively make up the Seminole Companies (Seminole). SFS is responsible for originating, underwriting, servicing and providing asset management for the debt and equity investments originated for institutional investors managed by sister company, Seminole Advisory Services, LLC (SAS). SAS is a registered investment advisor with the SEC and presently has several hundred million dollars in assets under management. SFS provides debt and equity investments for commercial real estate and renewable energy transactions nationwide, specializing in short and intermediate term investments.
Investment Builders, Inc. (“IBI”) is primarily engaged in real estate investment and development, construction, operation, and management of residential properties throughout Texas, New Mexico, and Arizona. IBI’s qualified development team of approximately 50 employees has over 30 years of experience in the construction and real estate industry and handles all aspects of the development process. To date, the company has participated in the development of more than 8,000 multifamily, senior, and military family housing units for either its own portfolio or for other third party investors, including approximately 2,500 units currently owned and managed by IBI Property Management.