By Trevor Damyan, Commercial Mortgage Broker at Commercial Lending Solutions
A $50 million build-to-rent (BTR) community construction loan in Texas finances a major institutional BTR project of typically 250 to 400 units across a master-planned community. Most $50M Texas BTR projects fund through specialty BTR debt funds at 70 to 75 percent LTC paired with institutional equity, with agency forward commitment locking permanent take-out.
Get a Quote on Your $50M Deal →$50M Texas BTR construction stacks combine senior construction debt with institutional equity. Most projects layer in agency forward commitment for permanent take-out rate certainty.
Pricing reflects active CLS CRE quote pipeline as of April 2026. Specific deal pricing depends on sponsor, property, and structure.
Typical $50M Texas BTR sponsors are vertically integrated BTR operators with multiple completed communities. Sponsor net worth $50M to $500M+. Texas Triangle markets (Austin, Dallas, Houston, San Antonio) lead BTR construction volume.
On a $58M BTR townhome community construction in a Sun Belt Texas suburb (288 units), the sponsor was a vertically integrated BTR operator with 6 completed communities. Construction debt at $42M from specialty BTR debt fund at SOFR + 475 (9.85 percent all-in), 72 percent LTC. Common equity at $14M from institutional BTR equity partner. Sponsor co-invest at $2M. Fannie Mae forward commitment locked permanent at 5.95 percent fixed 10-year for delivery at month 28. Construction took 26 months.
Anonymized. All deal references protect borrower and lender identity.
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