Dallas, November 2014 – Dallas-based Metropolitan Capital Advisors (MCA), a financial intermediary specializing in the exclusive representation of investors, developers and property owners in the commercial real estate capital markets, has arranged a $5,800,000 Interim Construction Loan to develop 22, one-acre residential lots surrounding the Prestonwood Polo Club located in Oak Point…an affluent northern suburb of Dallas. Each lot will enjoy unobstructed views of the Prestonwood Polo fields, stables, pastures and heavily wooded green space. The Prestonwood Polo grounds hosts a variety of year around Polo and Charity events and will serve as the center piece of the development.
Located on the southwest quadrant of FM 720 and McCormick Road – Oak Point’s primary intersection, the property is well-positioned to benefit from booming economic growth in the region, the pending widening of FM 720 to a 6-lane major arterial and the recent addition of the Lewisville Lake Toll Bridge.
The property is being developed by VCM Development Group, LLC, a Dallas-based real estate investment firm headed by Vaughn Miller – the oldest surviving son of Dallas real estate legend Vance C. Miller, and grandson of Texas real estate icon Henry S. Miller, Jr. VCM is currently pursuing a variety of projects including land and retail developments.
MCA Founding Principal, Scott Lynn, along with MCA Senior Director Brandon Wilhite were responsible for placing the $5.8MM Interim Financing with a regional bank located in Central Texas. For Further information on the project go to www.OakPointPolo.com or contact Metropolitan Capital Advisors at www.metcapital.com