BIRMINGHAM, Ala. – August 6, 2018 – Regions Bank announced today that the Houston Regions Real Estate Banking office recently provided a $41 million construction loan for a 327-unit multifamily development in Houston, Texas.
The class A multifamily development will include four 5-story buildings and a parking garage, two blocks from the Washington Corridor and just one mile from the central business district. The Washington Corridor is an area along Washington Avenue, from Memorial Park to Downtown. The area has experienced a recent resurgence with high-end townhomes, mixed-use developments, art studios, theaters and upscale restaurants and bars. The Washington Corridor’s walkability to new high-end developments has led to it being one of the most vibrant areas in all of Houston.
Regions Real Estate Banking is a team of four business groups – Real Estate Corporate Banking, Income Property Finance, Homebuilder Finance, and Regions Affordable Housing – strategically assembled to meet the needs of professional real estate companies, developers and investors. Regions delivers competitive products with superior service marked by speed, certainty and creativity, leveraging the bank’s full capabilities to offer a wide range of integrated banking solutions to help real estate businesses succeed and grow.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $125 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,500 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.
About Alliance Residential Company
Alliance Residential Company is one of the largest multifamily developers and the fourth largest multifamily manager in the nation. Developer of the high-profile Broadstone communities, Alliance is headquartered in Phoenix with 35 regional offices throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic and Northeast. As an integrated multifamily real estate company, Alliance is focused on the development, management, construction and acquisition of residential and mixed-use communities, overseeing a $15 billion portfolio of 105,000+ units. Alliance is actively seeking management, development, and acquisitions opportunities across the markets it serves. For more information, visit www.allresco.com