DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $47.35 million construction loan for Brick Row, (top right photo) a mixed-use development under construction in Dallas, Texas.
HFF managing director Andy Scott (middle left photo) worked exclusively on behalf of the borrower, a joint venture partnership between Winston Capital Corporation, 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, pro
vided the three-year construction loan.
vided the three-year construction loan. Upon completion in mid-year 2010, Brick Row will consist of 500 multifamily 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 completed Brick Row project is part of a large-scale master planned development consisting of for-sale townhomes, residential condominiums, ancillary retail, a public park, and will consequently be an upscale community unlike any other in the Richardson market.
Contiguous to the Spring Valley DART Rail Station (bottom right photo) at the intersection of Spring 
Valley and Greenville Avenue in the north Dallas suburb of Richardson, Brick Row will offer easy transportation to downtown Dallas (approximately 10 miles to the south), corporate centers to the north and major retail and entertainment destinations.
Valley and Greenville Avenue in the north Dallas suburb of Richardson, Brick Row will offer easy transportation to downtown Dallas (approximately 10 miles to the south), corporate centers to the north and major retail and entertainment destinations. “To get this project financed in a turbulent capital markets environment is a testament to the commitment and resiliency of everyone involved in this endeavor, and is proof that development projects with stellar sponsorship and strong locations are getting done,” said Scott. “Colonial Bank, Texas Capital Bank and Broadway Bank never waivered in their focus or determination to get this deal to the finish line.
“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 r
eal estate firms to add to their portfolio for many years to come,” Scott added.
eal estate firms to add to their portfolio for many years to come,” Scott added. “Winston Capital Corporation’s long-term relationship with Colonial Bank helped to secure the deal,” said Tony Stephenson, area president of Colonial Bank. “Colonial has a genuine interest in its clients’ needs and goals while remaining dedicated to helping them come to fruition. We are honored to be an integral part of this project.”
CONTACTS:
CONTACTS:
J. Andrew Scott, HFF Managing Director, 214 265 0880, ascott@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
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