Merchants Capital announced the closing of $102 million in combined debt and equity financing to support the redevelopment of Granada Homes, a historic affordable housing property located along the iconic River Walk in the heart of downtown San Antonio. Originally constructed in 1927 as the Plaza Hotel, the property is currently a mixed-use 14-story high-rise housing the underserved low and very-low-income senior population.
“Completing this transaction in a record 60 days required the focus and attention of multiple disciplines across the Merchants product platform,” said Lee Oller, executive vice president of Merchants Capital’s Chicago office. “We are incredibly thankful to our developer and our long-term partnership with the AFL-CIO, which brought the project to fruition.”
