Tim Downey Of Southern Land Company Secures $165.9M Construction Loan For Development Site In Houston

2811 Kirby Drive is a development site located in Houston, TX, encompassing 953,000 square feet on a 2-acre lot. The property is positioned in the Upper Kirby area and is set to become a mixed-use development incorporating 331 luxury apartments, 107,000 square feet of Class AA office space, and 15,000 square feet allocated for restaurant space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $165,900,000
• Asset Size: 953,000 BSF
• Acres: 2
• Lender: Bank OZK
• Landlord: Tim Downey - Southern Land Company
• Loan Type: Construction
• Completion Expected: 2028

Tim Downey, representing Southern Land Company, secured a significant construction loan from Bank OZK for the development at 2811 Kirby Drive. This financing supports the ambitious plans for the mixed-use project which integrates residential, office, and dining spaces in the thriving Upper Kirby market.