Siguler Guff & Company, LP, a multi-strategy private markets investment firm with approximately $17 billion of assets under management, as of June 30, 2025, today announced it closed the direct origination of an $11.0 million mezzanine loan to Surge Investment Group to refinance construction financing of The Zoe, their newly-built 214-unit luxury apartment community in Waco, Texas, which has reached stabilized occupancy.
Siguler Guff’s mezzanine loan was originated alongside a $23 million senior loan originated by Benefit Street Partners, a leading credit-focused alternative asset manager with strategies spanning the credit spectrum, representing the fourth financing package originated in partnership with Siguler Guff.
The Zoe consists of 214 apartment homes within five minutes of Baylor University and was developed by Surge Investment Group, a Utah-based development and construction company led by Paul Poteet and Dennis Richmond. The Group has entitled over 4,000 multi-family apartments and developed 928 apartments across seven markets.
Jose Mayoral, Vice President, Real Estate at Siguler Guff, said, “We are pleased to provide this flexible financing package to Surge Investment Group alongside Benefit Street Partners. Surge has demonstrated excellent execution on a high-quality apartment development that has been well received by the market.”
The Zoe will be managed by Asset Living, a nationally recognized property manager overseeing more than 200,000 units.
Discover the latest trends and insights—explore the Business Insights Journal for up-to-date strategies and industry breakthroughs!
