Texas is experiencing a housing boom.
Four of the state’s largest metro areas — Austin, Houston, San Antonio, and Dallas/Fort Worth —
collectively added more than 400,000 people in the last year, according to the
Census Bureau. Dallas recently topped a list of the best housing markets to invest in.
Now one private lending firm is capitalising on that growth with a new $US250 million investment fund.
Noble Capital, a private investment firm, is launching the fund in partnership with San Francisco-based private investment bank, US Capital Partners.
“We realise that timeliness is a critical component in the real estate sector and this fund will enable us to deploy capital more quickly and efficiently to the benefit of our clients,” Chris Ragland, chief operating officer at Noble Capital said in a statement.
The so-called Signature Fund will provide “a much greater level of sophistication for individuals and family offices looking to invest” in the booming Texas real estate market, according to a statement. The fund will lend money to those looking to build or renovate residential housing through a lending subsidiary called Streamline Funding.
Romney Navarro, chief marketing officer of Noble Capital, told Business Insider that the state’s friendly business environment is drawing interest.
“Low taxes and tax credits for startups have incentivized firms from other states, especially West Coast states like California, to come to Texas,” he said.”As a result, the population has grown exponentially for a number of years.”
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