VS Capital Group
Texas Capital Markets

Texas Commercial Real Estate Financing

Texas is one of the deepest CRE markets in the country, and lender appetite reflects it. VS Capital Group structures debt and equity across the state, from the DFW Metroplex through Houston, Austin, San Antonio, and secondary markets like Fort Worth, El Paso, and the Permian Basin. We work with sponsors building, acquiring, and recapitalizing multifamily, industrial, hospitality, and mixed-use product.

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Texas Market

How capital markets look in Texas today.

In-migration, business relocations, and corporate expansion have made Texas one of the most active CRE markets nationally. Multifamily supply remains heavy in metros like Austin and Dallas, which has compressed rents and softened underwriting in the near term, but it has also created opportunity for bridge buyers and lenders willing to underwrite to stabilization.

Industrial fundamentals remain strong across the I-35 and I-45 corridors. Hospitality has recovered to pre-pandemic levels in most Texas metros. We arrange financing across all of these product types with lenders that understand local cost basis, taxable-value reassessments, and construction-cost realities.

What we finance in Texas

Texas deal flow is dominated by multifamily, industrial, build-to-rent, and hospitality. We arrange bridge and construction debt for sponsors executing on assets across all four product types, and place permanent debt, agency, CMBS, life-company, and bank, once assets stabilize.

Industrial financing has been particularly active. Dallas-Fort Worth, Houston, and the I-35 corridor have absorbed substantial logistics product, and life companies and CMBS lenders are competitive on stabilized industrial. We've placed acquisition, construction, and refinance debt across distribution, manufacturing, and flex industrial.

Build-to-rent (BTR) and single-family rental (SFR) portfolios are a growing segment. Texas BTR developers face their own underwriting profile, entitlement, horizontal infrastructure, vertical construction, and lease-up, and we structure debt and equity that aligns to the specific phase of the business plan.

  • Bridge loans for value-add multifamily and lease-up in Austin, DFW, and Houston
  • Construction debt for BTR, multifamily, and industrial
  • Agency permanent debt on stabilized multifamily
  • Life-company and CMBS for stabilized industrial
  • Mezzanine and preferred equity for development
  • Joint-venture equity for opportunistic acquisitions

Texas underwriting realities

Property tax reassessment is the single biggest underwriting variable in Texas. Counties reassess at acquisition, and the new tax bill can materially shift underwritten NOI. Lenders that quote Texas deals know to stress-test taxes post-acquisition; we make sure your term sheet reflects that reality before you sign.

Construction cost and labor availability vary significantly by metro. Austin and the I-35 corridor have seen the sharpest cost pressure; Houston and DFW have moderated. We work with construction lenders that have current Texas portfolios and understand realistic cost contingencies and timeline assumptions.

Representative Texas Transactions

Anonymized examples from our TX book.

Sponsor names and addresses withheld. Loan sizes, structures, and outcomes are representative of active VS Capital Group transactions.

BTR Construction
$54M
DFW, TX
Structure
Senior + Mezz
Outcome
Closed 2025
Industrial Acquisition
$36M
Houston, TX
Structure
Life-Co Perm
Outcome
Closed at 65% LTV
Value-Add Multifamily
$48M
Austin, TX
Structure
Bridge Debt
Outcome
Closed in 45 days

Texas FAQ

Frequently asked questions.

Do you finance build-to-rent developments in Texas?
Yes. VS Capital Group structures senior construction debt, mezzanine, and joint-venture equity for build-to-rent communities across Texas. We work with lenders that have active BTR portfolios and understand horizontal-vertical phasing and lease-up underwriting.
How do Texas property tax reassessments affect underwriting?
Texas counties reassess at acquisition, which often resets the property tax bill materially higher than the prior owner's. Lenders stress-test taxes post-acquisition; we make sure underwriting and term sheets reflect the post-reassessment NOI before you close.
Can you place agency debt on stabilized Texas multifamily?
Yes. Fannie Mae, Freddie Mac, and HUD are competitive on stabilized Texas multifamily. We compare agency execution against bank, life-company, and CMBS options before recommending a path.
What's your minimum loan size in Texas?
We typically work on transactions starting around $2M and scale up to $300M+. Below that, sponsors are better served by local banks or community lenders.

Other Markets

Active financing across the country.

FloridaMichiganNorth CarolinaColorado

Discuss a Texas Transaction

Structure capital for your Texas commercial real estate deal.

Share the asset, the metro, and the closing window. A senior advisor familiar with the Texas market will reach out within one business day.

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