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Development
Texas

Provident scores $24M loan in DFW

Trez Capital lending $24M for first phase of 1,000 planned home sites near Rockwall

Provident Realty Advisors' Leon J. Backes, Trez Capital's Morley Greene; map of site plan (Provident Realty, Trez Capital, Getty)
Provident Realty Advisors' Leon J. Backes, Trez Capital's Morley Greene; map of site plan (Provident Realty, Trez Capital, Getty)

The suburbs of the Dallas-Fort Worth Metroplex continue to attract development. 

Provident Realty Advisors is set to kick off development of a massive single family community near Rockwall. Provident scored a $24 million loan from Trez Capital to begin construction on the first 281 lots of 1,000 planned homes, according to a news release 

The home sites, in a development called Hillstead are scheduled to be delivered by spring of 2024.

Perry Homes, Drees Homes, Highland Homes and American Legend Homes are set to build in the development, according to the release. 

The community will be located about 28 miles from downtown Dallas near Lake Ray Hubbard, on a 540-acre tract of land north of Rockwall. The parcel is at the intersection of State Highway 205 and County Road 483. 

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Provident Realty was first formed in Dallas in the early ’90s and has developed over $5 billion worth of projects, according to its website. Trez Capital’s Dallas office has funded over $6 billion in real estate loans and is lending to Provident for the fifth time, according to the release. 

Rockwall has been popular with home developers of late as Shaddock Homes recently announced a 490 home community called Homestead located on 196 acres near the intersection of FM549 and FM1139. 

(Provident Realty Advisors)
(Provident Realty Advisors)


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Dallas-Fort WorthProvident Realty AdvisorsSingle Family HomesTrez Capital