Financing secured by HFF for development of master planned community in suburban Dallas
DALLAS, TX – May 10, 2016 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured financing for the initial development of Green Meadows, a 15-phase, 1,408-acre master planned community in the North Dallas suburb of Celina, Texas.
HFF worked on behalf of the borrower, Tomlin Investments, to place the construction loan with Bank of the Ozarks. Proceeds were used to pay off existing debt and fund construction costs associated with the project, including bringing in roadways and utilities and creating both an amenity center and the 365-lot Phase I of the development.
Green Meadows is located one mile west of the Dallas North Tollway along Legacy Drive, approximately 10 miles north of Frisco’s “$5 Billion Mile” and the rapidly growing Legacy Business Park. The developer plans to build a new roadway, Green Meadows Parkway, which will intersect the toll road and further increase the community’s accessibility. Once complete, the master planned development will have nearly 4,500 single-family residential homes offering community amenities, including multiple swimming pools, gardens, dog park, playgrounds, walking trails, sand volleyball courts, grilling area with fire pit, party center and daycare center.
The HFF team representing the developer was led by director Jeremy Sain and managing director Steven Heldenfels.
“We are excited about putting the funding in place to develop the infrastructure for the entire project and bring the first phase of lots to market for a select group of builders,” said Dan Tomlin of Tomlin Investments.
About Tomlin Investments
Tomlin Investments is a land investment and development business based in North Dallas. The foundation for Tomlin Investments was laid in 1970 when owners Daniel Tomlin, Sr. and Daniel Tomlin, Jr. joined forces and by the mid 1980’s, the firm managed a land investment portfolio valued in excess of $500 million. Today, Tomlin Investments is run by Dan Tomlin, III and has four additional master planned communities set to begin development in the Dallas-Fort Worth area.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.