This Week's Dallas-Fort Worth Deal Sheet: The Links On PGA Parkway Gets $125M Loan To Finish Work
A top-shelf multifamily community near the Omni PGA Frisco Resort & Spa in Frisco secured financing for the final two phases of the 38-acre development.
Dallas-based firms Carbon Cos. and Greenway Investment Co. locked down an approximately $125M loan to finalize the luxury multifamily development The Links on PGA Parkway in Frisco.
The first two phases of the development at 15950 Paramount Way opened in December 2021 and October 2023, offering 690 units and a 2-acre city park. An additional 620 podium-style units with 815 underground parking units will be constructed in the upcoming phases.
Work on the final two phases of construction are slated to be done in 2027. The loan was arranged by the Carbon Cos. team.
Community amenities include two resort-style pools with outdoor lounges, two clubhouses, two fitness centers, a grab-and-go market, a golf simulator and complimentary yoga classes and golf lessons.
PEOPLE
Walker & Dunlop, Inc. expanded its presence in Texas with the addition of Mike Bryant as senior managing director. Based in Dallas, Bryant will be responsible for new loan originations with a focus on multifamily lending through government-sponsored enterprises such as Fannie Mae and Freddie Mac. Bryant brings more than 40 years of commercial real estate finance experience, most recently as vice chairman and managing director of CBRE's Dallas Debt and Structured Finance department.
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Stream Realty Partners promoted Ryan Boozer to vice chairman and partner and moved Dan Harris up to vice chairman and managing director. Boozer joined Stream in 2014. He coleads the firm’s industrial division in Dallas-Fort Worth and is responsible for all aspects of industrial tenant representation. Harris joined Stream in 2019 and coleads the office tenant representation division in Dallas-Fort Worth.
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Cook Children's Health Care System named Kyle D. Edgington the senior vice president and chief development officer of its Cook Children’s Health Foundation. The Fort Worth native comes to Cook Children’s after 16 years at The University of Texas at Dallas, where he held multiple teaching and administrative leadership roles.
CONSTRUCTION AND DEVELOPMENT
McKinney officials approved plans for the $1.3B mixed-use development Long Branch, led by developer Creation in partnership with Horizon Capital Holdings and Vaulter. The 155-acre development will bring housing, retail, office space, specialty grocery and hospitality to the northwest corner of U.S. Highway 75 and the future Highway 380 bypass.
The project will include around 1,600 multifamily homes, 135K SF of retail anchored by a 65K SF grocer and a 319K SF office campus with two six-story buildings. Plans also call for a 100-room hotel and a five-story parking garage. GFF Design will lead design and construction will be led by Dallas-based LGE Design Build. Infrastructure work at the site is slated to start later this year.
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The NRP Group announced the financial close and groundbreaking of a 340-unit, mixed-income housing community in Anna. The development will provide housing for residents within a range of income levels. Located at 900 S. Buddy Hayes Blvd., the development will feature one four-story building along with 10 three-story residential buildings across a 15-acre site. The project is expected to be completed in early 2026.
THIS AND THAT
Dallas-based Ascent Investment Partners announced the first closing of Ascent Fund II, securing $82M in investor commitments. The fund will focus on acquiring, repositioning and strategically exiting land investments across the Texas Triangle.
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The city of Richardson awarded a $50K incentive grant through its Research Award Match Program to support the expansion of JP Analytical LLC. JP Analytical was previously awarded a $1.2M Phase II Small Business Innovation Research grant from the Air Force Research Laboratory.
JP Analytical plans to use its grant from the city to expand or relocate its current headquarters in the Richardson Innovation Quarter, potentially incorporate a particle accelerator into its research operations and grow its team.
