News

$40 Million in Financing Provided for 1,600 Acre Sun Chase Community in Austin, Texas

A team led by Q10 KDH Vice President Matt Franke, Vice President Dave Holland and Principal Ray Driver, III procured $40 million in financing for Sun Chase, a 1,600 acre Master Planned Community located in Austin, Texas.  On behalf of Qualico CR, LP, Matt and the KDH team facilitated financing of the multi-year, multi-phased development. Sun Chase’s Phase I will include 470 single family homes, mixed residential, commercial and multifamily components.  Subsequent phases will include single family development, multifamily, and retail. In addition, Sun Chase will feature private and public parks, schools, hike and bike trails, and greenbelt areas.

“Our company motto at KDH is ‘Growth Through Relationships’ and this transaction is the embodiment of that message.  By that, I’m referencing our relationship with Qualico that was established more than 6 years ago and has been strengthened through this most recently closed financing.  Like most transactions, this one had its ups and downs and ended up taking substantially longer to close than we initially anticipated.  In this case, getting our lender to issue the loan commitment was more or less routine but the real challenge was getting the closing team comfortable with the large 1,600 acre land assemblage that served as our primary collateral. Fortunately, we were able to coordinate closing efforts through frequent calls with the team, and our competent and professional surveyor and title company reps were able to provide the need supporting docs to lender’s satisfaction.

I’m really looking forward to watching this master planned community grow and mature in coming years.  With its proximity to the Austin-Bergstrom Airport, the new Circuit of the Americas and numerous employment options, I’m confident that Sun Chase will be another of Qualico’s successful communities.” – Matt Franke