- A private investor obtained $117.3 million of floating-rate, interest-only financing from Benefit Street Partners, arranged by Walker & Dunlop, on three Texas apartment communities with 960 units.
- The properties are Latitude Magnolia in Aubrey, Aven Ridge in Leander and Austin Avenue in Georgetown, completed in 2021 or 2022 across the Dallas-Fort Worth and Austin metros.
- Dallas led the nation in multifamily deliveries in the first half of 2026 and Austin ranked fifth, though both are well below last year’s pace, per Yardi Matrix.
Benefit Street Partners funded a $117.3 million refinancing on three apartment communities in the Austin and DFW metros, according to Multi-Housing News.
Walker & Dunlop arranged loans that float and pay interest only. Yardi Matrix lists Miguel Viramontes Nales of New Jersey as the owner of the 960-unit portfolio.
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The Three Communities
Latitude Magnolia in Aubrey is the largest at 336 units. Built in 2021 in the Dallas-Fort Worth Metroplex, it offers one- and two-bedroom floor plans.
Aven Ridge in Leander, north of Austin, has 312 units from 2021 in one- to three-bedroom layouts. Amenities cover a resort-style pool, business center and a gym with a dedicated spin room.
Austin Avenue in Georgetown, also north of the city, opened in 2022 with 312 units ranging from studios to three-bedrooms. Amenities range from a resort-style pool and outdoor kitchen to a 24-hour fitness center, dog park and community garden.
The Deal Team
Walker & Dunlop’s Capital Markets Institutional Advisory group arranged the debt. Managing Director Jordan Casella was part of the deal team with Adam Schwartz, Jonathan Schwartz, Aaron Appel and Keith Kurland, all senior managing directors.
Christopher de Raet (director) and Nicholas Gilhooley (analyst) rounded out the group.
Dallas and Austin Still Lead Deliveries
Dallas led the country in apartments completed during H1 2026 at 12,108 units, versus 19,334 a year earlier, Yardi Matrix data shows. Austin placed fifth with 6,388 completions, after finishing second last year with 17,409.
Measured against existing stock, the pace is lower: 1.2% for DFW and 1.8% for Austin. Charlotte led at 3%, and Dallas ranked eighth on that list while Austin ranked fifth.
Why It Matters
Newer properties are still refinancing easily, Multi-Housing News notes. In August, Vantage Communities landed $103M of bridge financing on three Austin and San Antonio communities totaling 864 units, also from Benefit Street Partners, with Greystone Capital Advisors as the arranger.
The supply side backs that up nationally. CRE Daily’s brief on apartment completions noted RealPage counted about 82,000 units finished in Q3, the smallest third quarter since 2019, with about 231,000 delivered through September, down 27% from 2025.
What’s Next
Watch for more refinancings on suburban Texas assets from the same 2021 to 2022 delivery wave. Pricing and loan structure on those deals will show how lenders view the recovery.
