AUSTIN, TX—FourPoint Capital Markets has arranged construction financing for the development of The Point North, a student housing community located pedestrian to The University of Texas at Austin. Craig Miller of the FourPoint debt & structured finance team arranged the construction loan on behalf of Focal Point Development with a specialty lender.
"Amid the COVID-19 pandemic, we were able to work successfully alongside the developer and lender to push this loan closing across the finish line." said FourPoint Director Craig Miller.
The boutique 76-bed, three-story development is a block north of the UT Austin campus and has proposed amenities that include an outdoor amenitized courtyard, a fitness studio, and two study lounges. Unit interiors will have top of the line finishes and each bedroom will be fully furnished. The Point North will be located adjacent to both the UT School of Law and UT Department of Engineering and is scheduled for completion in summer 2021.
"Despite the challenges that occurred due to COVID-19, The Point North was executed on time in an environment that became increasingly difficult to navigate." says Focal Point Development principal Bret Bunnett, in a prepared statement.
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Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
