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Texas  + Dallas-Fort Worth  + Industrial  | 
Garages of America raises debt for Frisco auto condo

Garage Condo Slated for Frisco

George Smith Partners successfully arranged $6,700,000 in C-PACE financing, complemented by $14,400,000 in fixed-rate construction debt, to fund a new 53-unit luxury garage condominium project in Frisco, Texas. Spanning over 5 acres in a Dallas suburb, the financing sponsor is Garages of America.

Commercial property-assessed clean energy (CPACE) is a financing structure in which building owners borrow money for energy efficiency, renewable energy, or other projects and make repayments via an assessment on their property tax bill. The financing arrangement then remains with the property even if it is sold.

Garages of America caters to diverse storage needs, offering climate control, power, security, and 24/7 access.

This is the first garage condominium to break ground in Q1 2024. Three others are planned in Tarpley, Rockwall and Garland.

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Garages of America

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Development