Developers Secure $425 Million Construction Loan For 55-acre Mixed-use Project In Frisco

The property involved in this transaction is a 55-acre development site located at Panther Creek Parkway & Dallas North Tollway in Frisco. The project has secured a construction loan totaling $425,000,000 to initiate development throughout the site, which includes plans for 350,000 square feet of retail space and 325,000 square feet of office space. The mixed-use project is noted for having 70% of its retail space pre-leased, with an anticipated opening date set for Q3 2027.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $425,000,000
• Address: Panther Creek Parkway & Dallas North Tollway
• Market: Frisco
• Asset Size: 55 acres
• Lender: Bank of America, J.P. Morgan, Prosperity Bank
• Landlord: Fehmi Karahan - The Karahan Companies; Colin Fitzgibbons - Hunt Realty Investments; Bill Vanderstraaten - Chief Partners; Cross Tie Capital

The development initiative is led by a partnership that includes The Karahan Companies, Hunt Realty Investments, Chief Partners, and Cross Tie Capital. Notably, these developers have also secured an additional $70 million through city-issued bonds to support the commencement of construction on the Fields West project.