Michael Holigan Of Holigan Investments Secures $58.7 Million Loan For Maranello Luxury Garages In Plano

The asset involved in this transaction is a development site located at 4501 Mapleshade Lane, Plano, TX. The project includes the construction of 80-unit Maranello Luxury Garages condominium with features such as customizable luxury garage condos along with office and retail space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $58,700,000
• Lender: Crestline Management
• Lender’s Representative: Robbie Pinkas - Pace Loan Group
• Landlord: Michael Holigan - Holigan Investments
• Loan Type: Senior & Construction
• Senior Loan Amount: $36,200,000
• C-PACE Financing Amount: $22,500,000

The deal highlights the collaboration between multiple parties, with Holigan Investments securing substantial financing for the project. The financing will facilitate construction, while the C-PACE financing specifically supports sustainability upgrades aimed at reducing energy and water consumption.