Mirate Equity, a private equity firm specializing in real estate investments, announcef a $21.1 million loan to Horizon Construction Group to construct a new mixed-use development in Austin, Texas. The "The Meridian" project is set to bring high-end residential and commercial space to the rapidly growing downtown area.

The Meridian is designed to feature 150 luxury apartment units, 20,000 square feet of premium retail and office space, and state-of-the-art amenities. Strategically located near major business hubs and transit connections, the development aims to meet the increasing demand for high-quality housing and commercial real estate in Austin. The project is expected to be completed by Q4 2026.

"At Mirate Equity LLC, we are committed to supporting innovative and impactful real estate developments that contribute to economic growth and urban expansion," said Arthur Chang, CEO of Mirate Equity LLC. "The Meridian aligns perfectly with our investment strategy, and we are excited to partner with Horizon Construction Group to bring this project to life."

Horizon Construction Group, a well-established real estate developer with a strong track record in Texas, expressed enthusiasm for the partnership. "This loan from Mirate Equity LLC enables us to accelerate our vision for The Meridian, delivering a modern, community-focused space that enhances the Austin landscape," said James Foster, President of Horizon Construction Group. "We are grateful for their trust and support."

With construction set to begin in early 2025, The Meridian is expected to create hundreds of jobs throughout the development process and provide long-term economic benefits to the region.