DC Partners Secures $56M Mezzanine Loan For The Allen Condo And Hotel Development

The Allen, a $290 million condo and hotel development located at 1711 Allen Parkway in Houston, has secured a $56 million mezzanine loan from Southern Realty Trust. The project, spearheaded by Houston-based developer DC Partners, is nearing completion, with construction having commenced in 2019. The 35-story building boasts 99 luxury condos and will also feature a 171-key Thompson Hotel under the Hyatt brand. The Allen is situated near Buffalo Bayou Park, adding to its appeal.

Summary of transaction details

• Property Type: Condo
• Transaction Amount: $56,000,000
• Lender: Brian Sedrish - Southern Realty Trust
• Landlord: Roberto Contreras - DC Partners
• Loan Type: Mezzanine Loan

Southern Realty Trust, based in Florida, has provided the mezzanine loan to DC Partners, enabling them to progress with The Allen's development. Brian Sedrish, representing Southern Realty Trust, worked closely with Roberto Contreras, who acted as the landlord's representative for DC Partners. Together, they facilitated the loan arrangement, allowing the project to reach its final stages.