NEW YORK, April 25, 2022 – BayBridge Real Estate Capital today announced it secured a $37 million loan to help Cumby Group finance the construction of The Emma, a 146-unit multifamily development located at 3219 Manor Road in Austin, Texas. The financing, arranged by BayBridge, originated from New York-based RMWC.
Austin, Texas, is among the fastest-growing major metropolitan area in the U.S. and the “hottest housing market in 2021,” according to Yahoo Finance. The Emma will be a part of a larger community development from Cumby Group that will cover nearly nine acres and include additional rental housing, green space for community gatherings and more than 11,700 square feet of commercial space, space for neighborhood gatherings and additional housing.
About BayBridge Real Estate Capital
A specialty firm focusing on responsive execution and creative financing, BayBridge Real Estate Capital helps developers and investors source funding for a broad range of commercial real estate projects. With an emphasis on structured finance, the team brings decades of experience to markets across the country from its offices in New York, Miami, Fort Lauderdale, Boca Raton and West Palm Beach, Fla. For more information, visit www.baybridgerec.com or call (646) 213-7561.