Developers of one of downtown Dallas’ tallest residential towers say they have landed a new loan.in the Dallas Arts District includes more than 400 rental units in 41 floors. The building on Pearl Street south of Klyde Warren Park is a project of Florida-based developer ZOM Living, which said it has obtained a $109 million loan on the building.
The big debt deal comes at a time when lenders are tightening standards for investment property borrowing. “This refinancing underscores the strength of the Texas market, which is experiencing a surge in housing demand and leads the nation in multifamily development activity,” Matthew Adler, chief investment officer at ZOM Living, said in a statement. “Our ability to secure favorable financing for Atelier amidst a challenging economic environment speaks to the high quality of this asset and the trajectory of ZOM Living as a leading housing developer in the country.