Thorofare Capital has provided a $15,000,000 floating-rate senior loan for the refinance of Mihir Taylor Townhomes, a 64-unit build-to-rent (“BTR”) community located in Taylor, Texas, approximately 35 miles northeast of Austin.

Mihir Taylor Townhomes is a Class A, newly constructed BTR community was completed in multiple phases across 2024 and January 2025. Units are a mix of three- and four-bedroom homes averaging 1,604 square feet, each with a private backyard and detached two-car garage. Interiors include quartz countertops, stainless steel GE appliances, walk-in closets, keyless entry with video doorbells, and in-unit GE washers and dryers. Community amenities include a park, playgrounds, and walking trails. At the time of closing, the property was 31% leased.

The property rental demand stands to benefit from its proximity to Samsung’s new $17 billion semiconductor facility—expected to create over 2,000 jobs by 2026—as well as regional connectivity via US-79, SH-95, and I-35. Taylor High School sits directly across from the property.

The interest-only loan carries an initial term of 24 months and includes an Earn-Out structure subject to performance hurdles, as well as reserves for interest shortfall, rate cap, and insurance.

The sponsor is a Texas-based, multi-generational development firm with a focus on build-to-rent communities and sustainable housing tailored to Millennial and Gen Z residents. The property is managed by a nationally scaled third-party firm with over 36,000 multifamily units under management across the western United States.