C
arbon Companies has secured a $138 million bridge loan to refinance debt on its The Links on PGA Parkway apartments in Frisco. The Dallas-based developer will use the funds from MF1 Capital to cover costs associated with the first two phases of the project, which delivered 690 units. BayRidge Real Estate Capital brokered the deal alongside Carbon's CEO Ed Garahan and CFO John Hood.

    The loan is a significant step towards completing the development, as Carbon plans to start construction on the third and fourth phases' 620 units in December. However, the company still needs to secure financing for the nearly $100 million cost of these final phases. Rents at The Links range from $1,400 to $3,200 per month, with amenities including poolside cabanas and a golf simulator room.

    Frisco's population growth has been driving demand for multifamily developments in the area. With a 12% increase since 2020, developers are capitalizing on the consistent investment and growth. The Links was one of the first projects to break ground in Frisco, with Carbon's Garahan describing it as "the first one out of the box." Following the Federal Reserve's rate cut, refinancing opportunities are expected to increase, with several deals already being secured in the commercial real estate market.