HSM Investment Banking Group Closing Apartment Development

DALLAS, TX - December 3, 2007 -- Henry S. Miller Investment Banking Group has announced the closing of a financing package for the Watercolor at North Beach Street Apartments in Ft. Worth.  The sponsors are a joint venture consisting of Insight Real Estate Strategies of Keller, TX and Fine Line Diversified Development of Ft. Worth, TX.

The 398 unit development is being built on 27.23 acres on North Beach Street just north of North Tarrant Parkway in the fast growing Alliance corridor in North Ft. Worth.  The project has a state of the art amenity package including a fitness center, pool, interior basketball court, fiber optics, a lake and several water features.

Roy G. Norwood, Jr. and Loy R. Shaw, Jr. of Henry S, Miller Investment Banking Group exclusively represented all parties to the transaction.  They arranged a $29,819,462 construction loan with Capital One Bank, a $5,500,000 equity investment by Fine Line, and a third party loan guarantee.

Joe Petersen, award winning president of Insight, will be the development manager and Insight will manage and market the project.  C.F. Jordan Construction Company of El Paso will be the general contractor.   

Henry S. Miller Investment Banking Group arranges debt and equity financing for existing and to-be-built commercial and multifamily properties and can be reached at 972-419-8608.

Henry S. Miller Commercial, founded in 1914, is Texas’ largest independent commercial real estate firm and a member of Realty Resources Network, one of the largest affiliations of commercial real estate firms in the nation.