Anthem Lands $63M Financing for Dallas Community

Anthem Development has secured debt and equity financing for its latest 340-unit multifamily project in Garland, Texas. The developer secured a combined $63 million of joint venture equity and debt from an undisclosed institutional JV equity partner and Bank OZK. Nova Capital arranged the financing, which will be used for the acquisition and development of Lofts iThirty.

The developer is planning to break ground on the project this month, with an expected completion scheduled for sometime in 2025. According to Anthem, Lofts iThirty could see its first resident move-ins as early as the third quarter of 2024.

The luxury community will offer one-bedroom and two-bedroom units in five four-story buildings. The community’s amenities will include a game room, coffee bar, remote work lounge, two pools and outdoor kitchens.

Lofts iThirty is located at the northwest corner of Broadway and Interstate 30, a 13 mile drive to downtown Dallas and a short commute to some of the area’s major employers like American Airlines, Southwest Airlines and Baylor Scott & White. Anthem designed Lofts iThirty to be pedestrian-friendly, with the community being within walking distance to several entertainment, restaurant and retail options including Walmart and Kroger.

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