March 08, 2021
GEORGETOWN, TEXAS – March 8, 2021 – Today, Trez Capital announced the closing of $12.7 million in financing for phase one of Owen Holdings, Inc.’s new 454-acre mixed-use community, Parmer Ranch, located 15 minutes northwest of downtown Georgetown at the intersection of Ronald Reagan Boulevard and Williams Drive (FM 2338). The development financing is for the project’s first phase of 155 single-family residential lots as well as the master infrastructure for the community.
“We are excited to play a key role in bringing more homes to Georgetown, one of many rapidly growing suburbs just north of Austin,” said Grant Morrow, vice president at Trez Capital. “Georgetown’s population has soared by 67.6% from 2010 to 2019. Couple this with the soaring demand for housing right now, this is the ideal time to develop this large mixed-use community as more builders are looking for completed lots which are increasingly in limited supply.”
Upon completion, Parmer Ranch will have more than 1,000 single-family homes, 100 acres of mixed-use commercial space including multifamily, retail, office and medical, a 4.5-acre community center with a swimming pool, a new elementary and new middle school as well as 47 acres of open space. Some of the first phase amenities include a 10-acre park with an event lawn and outdoor pavilion, a food truck court, greenspace with hike-and-bike trails and an amenity pond. The development will also provide convenient access to employment centers including the nearby new Apple campus and other entertainment and dining destinations in neighboring Austin.
“Surrounded by the beauty of the Texas Hill Country, Parmer Ranch offers amenities and attainable pricing for those seeking a modern, comfortable lifestyle with a full suite of amenities,” said Joe Owen, president at Owen Holdings. “Trez has been a valued partner throughout this process, and we look forward to working with them to see this project to completion.”
Homebuilders working on the project include Gehan Homes, Empire Communities, Sitterle Homes and GFO Home, with house prices starting below $300,000. The first homes are scheduled to be ready for move-in by summer of 2021.
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt financing solutions in Canada and the United States. We offer private and institutional investors strategies to invest in a variety of opportunistic, fully-secured, high-yield mortgage investment funds and like investment assets, and provide property developers and owners with quick approvals on flexible short- to mid-term financing.
With offices in Canada and the U.S., including one in Dallas, Trez Capital has over $4.1 billion in assets under management and has funded over 1,500 transactions totaling more than $12 billion since inception. The Dallas office has funded more than $3.5 billion in loans. For more information, visit www.trezcapital.com.