Jul
16
Westdale to Redevelop Historic Downtown Dallas Asset
ByMetropolitan Capital Advisors arranged the debt financing for the redevelopment of Mid Elm Lofts in Dallas on behalf of Westdale Real Estate Investment and Management. The project will completely restore the exterior of the buildings and rehabilitate and adapt the interior to preserve its integrity.
After teaming up with KDC earlier this year to construct The Epic, a mixed-use, transit-oriented Dallas development, Westdale Real Estate Investment and Management secured the debt financing for the redevelopment of Mid Elm Lofts in Dallas. The funding incorporates a recourse loan originated by a Texas-based bank, state and federal historic tax credits, a city tax incremental financing and a tax abatement from the Landmark Commission of Dallas.
Located at 1512-1516 Elm St. in the heart of downtown Dallas, the three-building, 19,395-square-foot asset will feature 29 high-end boutique apartments in a turn-of-the-century loft setting, ground floor retail, basement retail and a trendy rooftop retail area…
