BayBridge Real Estate Capital arranges new financing with New York-based debt fund
Carbon Companies, a Dallas-based, vertically integrated real estate firm, received a $138.3 million bridge loan tied to a large-scale multifamily development in Frisco, Texas, The Links on PGA Parkway. The loan, arranged by BayBridge Real Estate Capital, with Carbon Companies’ CEO Ed Garahan and CFO John Hood, will be used to refinance existing debt from the first two phases of the master-planned project.
Jay Miller, Spencer Miller, AJ Felberbaum, Gabe Stolar and Noah Rothman from BayBridge originated the financing provided by MF1 Capital, LLC, a multifamily-focused debt fund. The lender was able to offer a competitive interest rate in a challenging market environment.
The Links on PGA Parkway is a four-phase luxury multifamily residential community with landscaped shared green spaces, adjacent walking and biking trails and several on-site health and wellness amenity options. The first two phases, composed of 690 units, opened in December 2021 and October 2023, respectively. Carbon Companies is in the process of securing construction financing for phases three and four which total 620 units.
Located at 15950 Paramount Way, The Links offers a mix of one-, two-, and three-bedroom rental apartments appointed with modern appliances, stylish interiors and other upscale features.
The Links community is a premier living destination that offers an array of luxurious services and amenities. Residents will enjoy two sophisticated clubhouses, two resort-style pools with inviting outdoor lounges and two state-of-the-art fitness centers. For golf enthusiasts, a cutting-edge golf simulator is available, along with complimentary yoga classes and lessons from a local golf professional.
Frisco, located about 30 miles north of Dallas, has grown exponentially over the past several years with a steady cadence of new housing and commercial development completed or in the pipeline, all within a mile or two of The Links. Key projects and economic drivers include:
-The PGA of America built a $33.5 million, 4-story national headquarters building, employing over 150 people.
-The OMNI PGA Frisco is a $550 million resort and entertainment area that has two 18-hole championship golf courses, a 510-room resort facility, and a “one-of-a-kind” indoor and outdoor golf-centered entertainment area.
-Construction is underway on The Fields, a multi-billion-dollar mixed-use development that is attracting luxury retail brands, restaurants, apartment rentals, a hotel, and office space to the area.
-Universal Kids Resort is a family-focused park and 300-room resort that should be completed in early 2026.
-The Baylor Scott & White Hospital is a multi-million, multi-story health complex that is estimated to be open in May 2025.
-Infrastructure work has begun on Firefly Park, a multi-billion-dollar Wilks Development project located adjacent to The Links. The plans include a 45-acre park, 400,000 square feet of retail and entertainment space, and three million square feet of office space.
About the Carbon Companies:
The Carbon Companies is a fully integrated, privately owned real estate firm based in Dallas, Texas that has more than four decades of experience developing Class A, sustainable rental apartment communities and commercial properties. Its portfolio consists of over 35,000 residential units and 390,000 square feet of office and retail space combined valued at over $2.6 billion. The firm handles construction, property management, asset management, acquisitions & dispositions in-house. In addition to building market-rate rental communities, the company also develops senior housing under the Woodland Cottages brand. For more information, visit TheCarbonCompanies.com.
About BayBridge Real Estate Capital:
Based in New York City, BayBridge Real Estate Capital is a capital markets advisory firm that specializes in structured finance transactions throughout the United States. As a trusted advisor, BayBridge has developed exceptional, long-standing relationships with institutional and entrepreneurial capital providers that invest up and down the capital stack and across all asset classes. Being part of a larger Miami-based financial services company, BayBridge also retains an exclusive network of family office and high-net-worth individuals who opportunistically invest alongside their clients. This transaction represents BayBridge Real Estate Capital’s best-in-class capabilities to quickly and efficiently secure unique capital in a volatile capital markets environment. www.baybridgerec.com
About MF1 Capital, LLC:
MF1® is a multifamily lending platform led by seasoned professionals from Limekiln Real Estate (“Limekiln”) and Berkshire Residential Investments (“Berkshire”). MF1 has grown to become the largest provider of Multifamily bridge capital in the industry, having executed over $21B of financings since its inception.
