Holliday Fenoglio Fowler, L.P. (HFF) announces $126 million in financing for the development of Main Street, the amenity space within The Village, an iconic multifamily community in Dallas, Texas.
The HFF team worked on behalf of the development group, led by Phoenix Property Company and Lincoln Property Company, to place the floating-rate construction loan with Bank of America, acting as administrative agent.
The Village is a 300-acre "city within a city" located at the corner of Central Expressway and Northwest Highway, approximately five miles northeast of the Dallas CBD. The Village has 16 distinct neighborhoods and more than 7,000 apartment homes, offering a range of product types. With a state-of-the-art fitness facility, more than three miles of jogging trails and weekly neighborhood gatherings, The Village leads the market in resident retention and turnover percentages.
The new Main Street enhancement district will deliver an unmatched amenity offering of community parks, urban plazas, a private resident club, private fitness center, residential dwellings, boutique hotel, market and multiple dining options to better serve the established community.
The HFF debt placement team representing the developer included senior managing director Andy Scott and director Michael Cosby along with executive managing director Jody Thornton.
About Phoenix Property Company
Phoenix Property Company, founded in 1994, is a nationally recognized, diversified real estate company with developments and investments in major cities across the United States. Noted for its extensive track record in developing award-winning multifamily and mixed-use communities on in-fill and urban sites, Phoenix Property Company has gained a reputation for recognizing emerging neighborhoods and creating revitalization movements that encourage additional development and growth. Phoenix Property Company has grown extensively over the last two decades, diversifying into commercial real estate investments including multi-family, retail, office and industrial properties with over a $1 billion of completed construction. Phoenix Property Company prides itself on being a full-service development and investment advisor with experienced professionals coordinating every aspect of the investment process. For more information on Phoenix Property Company, please call 214.880.0350.
About Lincoln Property Company
Lincoln Property Company, founded in 1965, is a Dallas, Texas-based global real estate company with offices in more than 200 cities in the United States and 10 countries throughout Europe. As a privately held real estate firm, it provides real estate investment, property management, development and leasing services worldwide. Lincoln Property Company has offices in all major markets of the U.S. and throughout Europe. Lincoln Property Company currently has $30 billion in total assets under management and has developed 138 million square feet of office, residential and industrial space. Lincoln Property Company is one of the largest privately held commercial real estate companies in the United States. For more information on Lincoln Property Company, please call 214-740-3300 or visit www.lpc.com.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.