Trademark secures financing to develop Fort Worth multifamily community
National real estate developer, investor, and operator, Trademark Property Company, has closed on the land and secured the financing for The Vickery, a multifamily-led mixed-use community located on five acres at W. Vickery Boulevard and Hemphill Street overlooking Downtown Fort Worth.
The community will consist of 307 apartments, 14 townhomes, and a 5,300-sf standalone restaurant building with a second story lounge. The residences will feature high-end, luxury finishes and a best-in-class amenity package, including a large public green space, a pickleball court, two dog parks, a co-working lounge, electric vehicle charging stations, a rooftop lounge, and a heated resort-style pool.
The Vickery will serve the fast-growing population at the edge of downtown and the Near Southside district, which has evolved into a highly walkable neighborhood with popular restaurants, bars, breweries, and coffee shops. The City of Fort Worth helped establish a Tax Increment Finance District (TIF) which will pave the way for improved sidewalks, lighting, public spaces, and other upgrades to the surrounding infrastructure. Additionally, the City recently completed the Hemphill Street’s pedestrian and vehicular connection, further enhancing the site’s connectivity to downtown.
The Vickery: Multifamily community coming to Fort Worth, Texas
The multifamily buildings at The Vickery will be designed, constructed, and operated to be healthier, more comfortable, more durable, have lower operating costs, require less maintenance, and promote a sustainable way of living. The project—along with all future Trademark multifamily developments—will adhere to National Green Buildings Standards (NGBS), which positions properties to meet the needs of the current and future market and qualifies for a LEED Bronze certification.
The construction process accounts for resource efficiency, both energy and water, site selection, indoor environmental quality, and operational efficiency among other factors. Construction is expected to begin early this year. The Dallas and Fort Worth offices of the prominent regional design firm GFF Architects serve as the project architect.
Trademark’s multifamily and mixed-use partner, Chad A. Colley, said, “I’m thrilled to bring this project forward in this very challenged capital markets environment. The Vickery prevailed because of the strong demand drivers in Fort Worth and Trademark’s reputation for creating highly amenitized mixed-use environments. Given the coming shortage of new construction, we expect a surge in demand for high-quality multifamily housing in the coming years, and The Vickery will be poised to satisfy this demand for top-quality housing with unmatched amenities.”
First United Bank provided the $61 million construction loan for the project, while SCOA Real Estate Partners serves as the primary capital partner. The Walker & Dunlop Texas-based Capital Markets teams, led by Heather McClure and Jonathan Paine, advised Trademark on the development joint venture with SCOAREP.
“We are excited to partner with Trademark Property Company to develop The Vickery,” said Joe Zagranski, President and CEO of SCOA Real Estate Partners. “This development is meticulously designed, and we look forward to building a community where our future residents will be happy to call home and all stakeholders will be proud.”
Terry Montesi, Founder and CEO, Trademark, remarked, “Over the last 30 years, we have partnered with numerous multifamily developers in creating vibrant mixed-use communities that provide a wonderful quality of life for residents. We are thrilled to have launched our own multifamily platform with The Vickery and apply our best practices in design and placemaking to create a quality living experience that is truly unique.”
In addition to The Vickery, Trademark is nearing completion of design and entitlement for three other developments that will be part of its formidable multifamily/mixed-use platform.
Trademark’s current portfolio includes Galleria Dallas, Lincoln Square, Left Bank, WestBend, Waterside, 5000 S Hulen and Alliance Town Center in Dallas-Fort Worth; Market Street – The Woodlands in The Woodlands (Houston); Dunham Pointe in Cypress, Texas; La Palmera Mall in Corpus Christi, Texas; Zona Rosa in Kansas City, Missouri; Annapolis Town Center in Annapolis, Maryland; North Point in Alpharetta (Atlanta); and Perkins Rowe in Baton Rouge, Louisiana.
On the Building Team:
Owner/Developer: Trademark Property Company
Primary Capital Partner: SCOA Real Estate Partners
Advisor: Walker & Dunlop
Architect: GFF Architects