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DALLAS-Archon Financial, a Goldman Sachs company, has kicked in nearly $40.8 million in two first mortgage loans to refinance the initial phase of Southlake Town Square. Cooper & Stebbins has secured 10-year loans through a deal structured by Dallas-based Holliday Fenoglio Fowler LP.

Archon Financial says the funds will lower Southlake Town Square’s construction loan while opening doors to continued development in the upscale community. It also offers “the potential of higher growth in value through long-term ownership,” according to an Archon release. Archon Financial underwrote the security by aggregating the west side of the square’s four buildings into one loan and the east sides’ three buildings into another.”There has been great synergy among all parties involved,” says Archon CEO Roddy O’Neal. Cooper & Stebbins set up a borrowing entity for the loan package, brokered by Holliday’s Whitaker Johnson, senior director in Dallas.

“Southlake Town Square covers all bases of good, solid real estate fundamentals and is a great forward-thinking project,” says Paul Jankovsky Jr., vice president and regional manager of Archon Financial.

Southlake’s signature town square is an open-air, mixed-use lifestyle center situated on 130 acres. The community’s average annual household income is $112,588 and carries an average appraised home value of $301,605, making it an ideal landing spot for high-end, specialty retailers. Southlake is ranked as one of Tarrant County’s fastest growing cities.

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