Leon Multifamily, a subsidiary of Leon Capital Group, has secured $134 million in construction financing within 30 days for three multifamily development projects totaling 842 units. The funding was obtained from a mix of regional banks and non-bank financial institutions:
David Cocanougher, President of Leon Multifamily, highlighted the company’s ability to secure financing swiftly despite a challenging market. “We are proud of our team’s ability not only to successfully finance these projects but to do so on an impressive timeline. While many investors are exercising caution through 2025, we are pursuing a proactive and contrarian approach. The window to capitalize on lower construction costs and reduced new supply is closing quickly, making timely execution critical. We remain focused on growing our portfolio strategically despite market challenges.”
Leon Multifamily’s confidence comes amid economic challenges, including elevated interest rates, inflation, and rising construction costs. The firm has taken a forward-looking stance by initiating or completing nearly 2,300 units across seven developments in the past two years. Since its inception, Leon Multifamily has financed, developed, and sold over 12,000 units.
Blake Schroeder, Executive Managing Director of Leon Multifamily, emphasized the importance of seizing opportunities in difficult conditions. “Every developer faces similar challenges, but value is created by skillfully navigating tough times. By building now at more competitive costs and delivering into a tighter supply environment, we are positioning Leon Multifamily for future rent growth. This approach distinguishes our business as one of the few actively adding new supply to the market.”
Leon Multifamily’s ability to secure financing quickly and efficiently underscores its commitment to long-term growth. The company’s strategic developments aim to meet future demand while leveraging current opportunities in construction costs and market dynamics.
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By Proptechbuzz
By Ravi Kumar
