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ARCTRUST Fully Subscribes LLC Offering to Fund Multifamily Dallas Community

ARCTRUST Fully Subscribes LLC Offering to Fund Multifamily Dallas Community. ARCTRUST, Regulation D, multifamily, Texas, fundraising, alternative investments, commercial real estate

ARCTRUST Private Capital, the capital markets division of the ARCTRUST Group of Companies, fully subscribed Project Rendon LLC, a Regulation D private placement offering available to accredited investors under Rule 506(c).

Project Rendon LLC raised the full offering amount of $14.95 million, as well as an additional offering expansion of $500,000 for a total of $15.45 million in less than 120 days.

The company intends to use the proceeds from the offering to finance the development of its 288-unit, Class A luxury multifamily residential community to be built in the Dallas suburb of Burleson, Texas. The property is being developed by Rendon Residential Partners LLC, a venture between a subsidiary of the ARCTRUST Group of Companies and Landmark Companies. With this achievement, the developer can now break ground; construction is scheduled to begin within 30 days.

“As we move further into 2024, our pipeline of new opportunities remains strong, and we are very excited to have reached this fundraising goal in a short amount of time,” said Chris Wadelin, chief executive officer of ARCTRUST Private Capital.

Project Rendon will include 12 three-story apartment buildings consisting of one-bedroom and two-bedroom units, along with several resort-style amenities including a clubhouse, fitness center, pool, outdoor grill and picnic areas, and a dog park. The development will be built on a currently vacant 23-acre land parcel located at 1151 East Rendon Crowley Road in Burleson, Texas, a high-density, high-income suburb in the Dallas-Fort Worth-Arlington metropolitan statistical area, the fourth largest metro area in the country.

ARCTRUST Private Capital is an affiliate of the ARCTRUST Group of Companies, a vertically integrated real estate organization that over the past 38 years has been responsible for more than 500 transactions with an aggregate value more than $5 billion. ARCTRUST Private Capital focuses on delivering a diverse platform of investment solutions including real estate investment trusts, Regulation D offerings, Delaware statutory trusts and preferred equity and debt products, while also providing investor access to private sidecar and property-specific investments in joint ventures and co-sponsored offerings.

For more ARCTRUST news, please visit their directory page.