Preston Hollow Community Capital Completes $185 Million Financing for Residential Housing Development at Brooks
Preston Hollow Community Capital (PHCC) recently announced the closing of a $185 million tax-exempt bond financing related to the development of a new build-to-rent residential community known as Los Cielos in partnership with the Brooks Development Authority, located in San Antonio.
- Preston Hollow Community Capital (PHCC) recently announced the closing of a $185 million tax-exempt bond financing related to the development of a new build-to-rent residential community known as Los Cielos in partnership with the Brooks Development Authority, located in San Antonio.
- Preston Hollow Community Capital’s relationship with Brooks dates back to 2015 when PHCC purchased the Brooks Development Authority’s $54.9 million inaugural tax-exempt bond issuance.
- Since then, Preston Hollow has provided an additional $43.5 million in tax-exempt debt to the area and $74.6 million in committed Opportunity Zone equity.
- “Preston Hollow is pleased to grow our investment across the Brooks community and strengthen our partnership with the Brooks Development Authority,” said Ramiro Albarran, Co-Head of Originations at Preston Hollow Community Capital.