Trademark Secures Financing for Fort Worth Multifamily Project

Trademark Property Company has purchased land and secured financing for a mixed-use project on Fort Worth’s Near Southside.

The Fort Worth-based developer received a $61 million construction loan from First United Bank to finance the project. SCOA Real Estate Partners is the primary capital partner for the project. Trademark did not disclose the full cost of the project.

“The Vickery” will be located on 5 acres, which are undeveloped, at West Vickery Boulevard and Hemphill Street. The project will include 307 apartments, 14 townhomes and a 5,300-square-foot restaurant building with a second-story lounge. The project will align with National Green Building Standards. Dallas-based design firm GFF will be the project architect.

The project is within one of Fort Worth’s Tax Increment Financing Districts. The TIF was established in 1997 and was extended last year to expire in 2032. It’s aimed at improving sidewalks, lighting and infrastructure in the area.

So far, permits for the Vickery have been filed for the restaurant and the apartment building’s leasing and amenity center. The expected cost for those structures totals $1.4 million, according to the filing with the Texas Department of Licensing and Regulation.

In November, Trademark appointed Kevin Kessinger as president and COO. Kessinger was previously a top executive at Blackstone subsidiary ShopCore Properties.

Trademark is also planning a 414-unit apartment complex at 3900 Lemmon Avenue in Dallas’ Oak Lawn neighborhood. The firm is also involved in retail projects throughout the Metroplex, including the redevelopment of the Galleria Dallas shopping mall and Lincoln Square shopping center in Arlington.

Trademark was founded in 1992 and has invested in, developed or redeveloped assets worth $4.6 billion. It holds a commercial real estate portfolio made up of 17 properties across the country.