Fields West announced the closing of a new $425 million construction loan on July 1. Construction financing was provided by Bank of America, JPMorgan Chase and Prosperity Bank.
Additionally, the Fields West partnership shared that as part of the development agreement, the city of Frisco successfully executed the sale of $70 million in municipal bonds on June 27 as part of their participation in Fields West.
Fields West is a 55-acre urban village in the heart of the greater Fields development, a 2,500-acre master-planned community. Fields West is led by developer Fehmi Karahan, president and CEO of The Karahan Companies.
“Great project visions cannot come together without great partners and lenders who believe and trust you. I am very fortunate to have both; partners like Hunt Realty Investments, Chief Partners, Crosstie and lenders including Bank of America, JPMorgan Chase and Prosperity Bank,” said Karahan. “Closing on a construction loan this size demonstrates that kind of trust in our incredible development. I can’t wait to see buildings coming off the ground early this fall.”
