Plano, Texas-based Beal Bank has originated a construction and permanent loan of $619.5 million to a development venture for the construction of a mixed-use development in Dallas’ Knox Street neighborhood, next to the Katy Trail and nearby town of Highland Park.
The project, expected to open in 2026, is being developed by MSD Partners, Trammell Crow Company, Highland Park Village Associates and The Retail Connection. JLL Capital Markets served as financial advisor to the borrower group in connection with the construction financing.
When completed, the project will cover four acres and 1 million square feet of upscale, mixed-used retail, office, hotel and residential space. Among the facilities are:
- A 140-key Auberge Resorts Collection hotel
- 48 high-rise condominium units
- 150,000 square feet of boutique office space
- A 173-unit multifamily tower
- 100,000 square feet of ground floor and second story retail and restaurant space surrounding a park with direct access to the Katy Trail.