BAYTOWN, TX - EBSC Lending announced the structuring of a $33 million construction loan for borrower Robert Fletcher to support a ground-up multifamily development in Baytown, Texas. The financing supports the construction of 22 two-story apartment buildings within a gated residential community.
The project is planned as a differentiated multifamily product incorporating precast insulated concrete panel construction, energy-efficient systems, solar panels with battery storage, backup generators, and professionally designed apartment interiors. The development is designed around long-term operating efficiency, tenant comfort, and reduced utility burden through integrated energy systems and backup power infrastructure.
Total project costs, inclusive of land, are approximately $56 million. The loan structure provides approximately 59% loan-to-cost financing and is intended to give the sponsor the capital necessary to advance through vertical construction while maintaining a disciplined basis relative to the full development budget.
Loan proceeds will support the sponsor’s construction plan and provide capital for the continued development of a gated multifamily community positioned to serve renter demand in the Baytown market.
Transaction Highlights
Loan Amount: $33,000,000
Financing Type: Construction Loan
Borrower / Sponsor: Robert Fletcher
Property Type: Multifamily
Project Size: 22 two-story apartment buildings
Location: Baytown, Texas
Loan-to-Cost: Approximately 59%
Total Project Cost: Approximately $56 million
Term: 12 months
Property and Market Overview
Baytown is located east of Houston along the I-10 Gulf Coast corridor and benefits from its proximity to the Houston Ship Channel, industrial employment centers, logistics infrastructure, and the broader Houston metropolitan economy. The Baytown-Chambers County area is supported by a significant industrial and petrochemical base, creating a long-term employment backdrop for residential and rental housing demand.
The development’s gated multifamily design, energy-efficient systems, solar panels with battery storage, backup generators, and professionally designed interiors are intended to differentiate the asset within the local rental market. The project’s focus on operating efficiency and tenant comfort aligns with continued demand for newer rental housing options in suburban and outer-ring Houston-area markets.
Baytown has continued to show population growth since 2020, and Houston-area multifamily market research has identified outer-ring hubs, including Baytown, as markets that continued to show rent growth in late 2025. These factors provide a supportive backdrop for new multifamily development where sponsors can deliver differentiated housing product at a disciplined cost basis.
“This project was designed to deliver a higher-quality multifamily product with energy-efficient systems, backup power infrastructure, and thoughtfully designed apartment interiors,” said Robert Fletcher, borrower and sponsor of the project. “We needed a lender that could understand the full construction plan, the cost basis, and the long-term operating strategy behind the development. EBSC Lending provided a financing structure that aligned with the project’s scope and timeline.”
“This is the type of multifamily construction transaction where capital structure, project basis, construction execution, and speed all matter,” said Martin Alex, President of EBSC Lending. “The sponsor is developing a substantial ground-up multifamily project with a defined business plan and a disciplined loan basis relative to total project cost. EBSC Lending was able to structure a solution that supports the development plan while maintaining the underwriting discipline required for this type of transaction.”
EBSC Lending continues to see strong demand for private construction capital across multifamily markets nationwide, particularly from sponsors seeking flexible, asset-based financing for projects that require speed, customization, and certainty of execution.
Terms of the transaction were not disclosed beyond the general loan amount, financing type, property type, project size, location, loan-to-cost, total project cost, sponsor identity, and loan term.
About EBSC Lending: Elite Business Service, LLC d/b/a EBSC Lending is a direct private real estate lender providing asset-based financing solutions for real estate investors, developers, sponsors, brokers, and originators nationwide. Since its founding in 2021, EBSC Lending has originated more than $2.3 billion in loans, funded over 239 projects, and lends in all 50 states.
EBSC Lending provides customized real estate financing solutions across a wide range of property types in primary and secondary metropolitan markets throughout the United States and Canada, backed by disciplined execution across changing market conditions. EBSC Lending offers a broad suite of lending products, including assisted living facility financing, cannabis financing, commercial bridge loans, construction loans, C-PACE, fix-and-flip loans, hard money loans, lines of credit, mezzanine financing, multifamily bridge loans, refinance loans, and rental investment loans.
EBSC Lending’s fully integrated teams across origination, underwriting, closing, and servicing drive disciplined execution and efficient timelines, delivering certainty of close and tailored solutions designed to meet each client’s objectives.