Northmarq arranges $37M construction loan for the Territory at Audubon multifamily development in Magnolia, TX

MAGNOLIA, Texas — Senior Vice President Ryan Watson of Northmarq’s Houston Debt + Equity team secured a $37 million construction loan for the 300-unit Territory at Audubon multifamily development in Magnolia, Texas. 

The three-year financing was arranged through a relationship with Origin Bank, on behalf of borrower Dhanani Private Equity Group.

“Finding the right multifamily construction lender in Houston has not been easy for the past 36 months but given the tract record of Dhanani Private Equity Group’s multifamily construction division and the relationship with the bank, we were able to find the right combination of capital stack and interest rate that will make the project successful,” said Watson.

The project, located at 16000 Audubon Trace, spans approximately 11.6 acres within the 3,000‑acre Audubon master-planned community at Texas State Highway 249 and Farm to Market Road 1488. It will deliver 300 units across nine three-story buildings, offering one-, two- and three-bedroom configurations that average around 953 square feet.

Standout community amenities include an 8,900-sq.-ft. indoor clubhouse, a fitness center, two-level resort-style pool, outdoor grilling and yoga spaces, EV charging stations, bike storage, surface parking, and a dog wash and park.