$126M Loan Goes to Village Main Street Developers

Phoenix Property Co. and Lincoln Property Co. obtained $126 million in financing to develop The Village Main Street, a complex offering community parks, urban plazas, boutique hotels and other amenities in the Central Dallas submarket. The development will be situated in the 300-acre Village, which contains 16 neighborhoods and 7,000 apartment units. The Village is on Southwestern Boulevard, at Central Expressway and Northwest Highway, approximately five miles northeast of the Dallas CBD.

Andy Scott, Michael Cosby and Jody Thornton with HFF led the team that placed the floating-rate construction loan with Bank of America.

Construction is already underway on the mixed-use Main Street development. In addition to amenities, the town center styled project will also provide more than 300 new apartments in half a dozen buildings, as well as townhomes.

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