Mixed-Use

ADDISON, TEXAS — Deutsche Bank Berkshire Mortgage (DBBM) has arranged financing on behalf of Post Properties for Post Addison Circle, a mixed-use development located in Addison. The $120 million loan for the property, which includes 10 mid-rise buildings, was arranged through a Freddie Mac. The property contains 1,334 rental units, 41,000 square feet of office space, 108,725 square feet of retail space and 234 self-storage spaces. The interest-only loan was structured with a 7-year fixed-rate.

DALLAS — Granite Properties, in a joint venture with Gables Residential, has begun construction on a $200 million mixed-use project located in Dallas. The development will comprise two towers. The first, Granite’s 19-story, 361,524-square-foot office tower called 17Seventeen McKinney, is located at the northwest intersection of McKinney Avenue. North Akard Street, Gables’ 292-unit, 26-story high-rise residential property located at 1700 Cedar Springs and Akard Street, is the second property. The development, situated on approximately 2.14 acres, also will include a 1-acre amenity deck between the two towers that features a 4,000-square-foot fitness center and an infinity-edge pool in a park-like setting that overlooks Victory Park and downtown Dallas. The development also will house 15,000 square feet of retail. Good Fulton & Farrell is providing architectural services for the project, while Austin Commercial is the general contractor.

SOUTHLAKE, TEXAS — Colleyville, Texas-based Realty Capital Corp. (RCC) has completed the sale of the initial building in Phase I of its new mixed-use development Stonebridge Park located at the intersection of FM 1709 (Southlake Boulevard) and Davis Boulevard in Southlake. A private investor purchased the 5,770-square-foot building from Realty Capital River Oaks Ltd., and will open a North Texas Eye Care at the site. The remaining three buildings in Phase I range in size from 2,800 square feet to 3,025 square feet and are available for sale or lease. Jobi Decker of Realty Capital Corp. represented the seller in the transaction.