Spanish Oaks

Spanish Oaks

Austin, Texas

Type
Land/Single Family
Acquired
March 2000
Sold
September 2005
Fund
Cypress Realty II

Issuance of mezzanine debt, collateralized with a second lien on a high-end single family residential development in west Austin.  The investment was restructured to include an option on the adjacent retail land, which was subsequently exercised by Cypress.