Seminole Financial Services Provides Construction Financing for El Paso, Texas Multifamily Apartment Complex

Belleair Bluffs, FL – May 10, 2012 –

Seminole Financial Services, LLC announced today the closing of $9.1 million construction/interim financing for a proposed 108-unit multifamily apartment complex located in El Paso, Texas known as Villas at Helen of Troy. The project is comprised of six (6) three-story, walk-up, garden-style buildings, a 3,010 square foot clubhouse and 108,252 square feet of rentable space. In addition, the investment will provide the developer, Investment Builders, Inc., with resources to purchase and develop an adjacent parcel of land into Phase II of Villas at Helen of Troy. Phase II will consist of a 90-unit apartment complex with similar layouts as the first phase. The Villas of Helen of Troy marks the second project Seminole Financial Services and Investment Builders have successfully partnered together to develop and build.

 

“We are pleased to once again work with Ike Monty and Investment Builders, Inc. to extend our experience and deliver economic benefits to the community of El Paso,” said Bob Banks, Chief Executive Officer of Seminole Financial Services, LLC.

 

For information about this and other financing, please contact Ron Campbell, Executive Vice President for Seminole Financial Services at (727) 331-8441 or rcampbell@seminolefinancialservices.com.

 

About Seminole Financial Services

Seminole Financial Services, LLC (SFS) is the operating entity of the six companies that collectively make up the Seminole Companies (Seminole). SFS is responsible for originating, underwriting, servicing and providing asset management for the debt and equity investments originated for institutional investors managed by sister company, Seminole Advisory Services, LLC (SAS). SAS is a registered investment advisor with the SEC and presently has several hundred million dollars in assets under management. SFS provides debt and equity investments for commercial real estate and renewable energy transactions nationwide, specializing in short and intermediate term investments.
www.seminolefinancialservices.com

 

About Investment Builders, Inc.

Investment Builders, Inc. (IBI) is primarily engaged in real estate investment and development, construction, operation, and management of residential properties throughout Texas, New Mexico, and Arizona. IBI’s qualified development team of approximately 50 employees has over 30 years experience in the construction and real estate industry and handles all aspects of the development process. To date, the company has participated in the development of more than 8,000 multifamily, senior, and military family housing units for either its own portfolio or for other third party investors, including approximately 2,500 units currently owned and managed by IBI Property Management.
www.ibitoday.com