George Smith Partners Secures $6.7M C-PACE Financing And $14.4M Construction Debt For Luxury Garage Condo Project In Frisco, TX

A $6.7 million construction loan was secured by George Smith Partners for a 53-unit luxury garage condo project located at 6767 All Stars Avenue in Frisco, Texas. The project, developed by Garages of America, sits on 5 acres of land and offers a total of 53 garage units. The financing strategy includes $6.7 million in C-PACE financing and an additional $14.4 million in construction debt. The focus of the funding is on sustainability and cost-effectiveness, aligning with energy efficiency standards while also enhancing investor yields in a volatile market.

Summary of transaction details:

• Property Type: Garage
• Transaction Amount: $6,700,000
• Market: Frisco
• Units: 53
• Acres: 5
• Address: 6767 All Stars Avenue

Robert Horton of George Smith Partners served as the broker for this transaction, representing the interests of Garages of America. The loan, provided as a fixed-rate construction loan, aims to support the development of the luxury garage condo project. The financing strategy, which incorporates C-PACE financing and construction debt, enhances the project's sustainability and cost-effectiveness while also reducing capital costs. This aligns with energy efficiency standards and helps to optimize investor yields, particularly important in a market characterized by volatility.