HFF Arranges $47M Construction Loan for Dallas Mixed-Use
- Oct 22, 2008
Holliday Fenoglio Fowler L.P. has secured a $47 million construction loan for Brick Row, a mixed-use development under construction in Dallas. Upon completion in mid-year 2010, Brick Row will consist of 500 multi-family units and 16,000 square feet of ground-level retail space configured around two central parking structures. Designed by Dallas-based BGO Architects, the property is situated in a park like setting. The project is part of a large-scale master planned development consisting of townhomes, residential condominiums, ancillary retail and a public park. HFF managing director Andy Scott worked exclusively on behalf of the borrower, a joint venture partnership between Winston Capital Corp., L&B Realty Advisors and the Michigan Employees’ Retirement System. A three-bank syndication which was led by Colonial Bank, along with Texas Capital Bank and Broadway Bank, provided the three-year construction loan. Located in the north Dallas suburb of Richardson, Brick Row will offer convenient transportation to Downtown Dallas, corporate centers to the north and major retail and entertainment destinations. “Projects such as Brick Row are essential in defining the new landscape of transit oriented development in the Dallas-Fort Worth metroplex, and represent viable and rewarding investment product for real estate firms to add to their portfolio for many years to come,” Scott said in a release.