Mark IV Capital closed on an $86 million construction loan to fund the initial phase of The District, a master-planned mixed-use development in Round Rock, Texas. The financing was led by BDT & MSD Partners, with participation from an affiliate of Apollo.
Mark IV acquired the site from Dell Technologies in 2016 and has spent nearly a decade working on master planning and entitlements.
Loan proceeds will fund vertical construction of Phase I, which consists of 316 luxury multifamily residences situated above 23,042 square feet of ground-floor retail.
The residential unit mix includes studio, one-bedroom, and two-bedroom layouts with an amenity package that includes a third-level pool deck, outdoor entertainment areas, a clubhouse lounge, and a fully equipped fitness center.
Phase I also includes a 40,750-square-foot Food & Beverage Plaza across six standalone buildings.
At full buildout, The District is anticipated to encompass nearly four million square feet of mixed-use density, including residential, retail, hospitality, and office components.
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