Trez Capital Closes Loan for First Phase of Provident Realty Advisors’ New Single-Family Master-planned Development north of Rockwall

DALLAS/LAVON, JUNE 12, 2023 – The Dallas-based office of Trez Capital announced the closing of a $24 million loan to Provident Realty Advisors’ for the development of 281 single-family lots in the first phase of a new master-planned community, Hillstead. The 540-acre community is located just north of Rockwall in Collin County and will have approximately 1,000 single-family homes upon completion with lot sizes ranging from 40 to 70 feet. This deal marks Trez Capital’s fifth financing to Provident Realty Advisors.

“Provident Realty Advisors is thrilled to team yet again with Trez Capital as one of our capital partners in the land development space,” said Rylan Yowell, the managing director of master-planned communities at Provident Realty Advisors. “Working with Grant and his team is always a pleasure! Hillstead should prove to be a great community with a strong builder lineup in Perry Homes, Drees Homes, Highland Homes and American Legend Homes. In this tough lending environment, we’re pleased that Trez Capital understood the potential of this tract of land with its strong schools and proximity to Rockwall.”

Hillstead complements “lake life” sitting in between Lavon Lake and Lake Ray Hubbard, providing residents with amenities catered to recreational living. The community will offer a variety of outdoor and indoor activities including a clubhouse, a pool, hiking and biking trails, pocket parks and scenic lookouts. The property is located just off Highway 205 in the coveted Wylie Independent School District and is nearby the robust retail shopping area in Rockwall. The master-planned community will provide easy access to job centers via I-30 to the south and highway 78 to the north.

“The Dallas-Fort Worth area continues to be a popular area due to inbound migration and a strong economy. There continues to be a shortage of single-family homes with demand outpacing supply in the region, with no signs of slowing down for the next few years, so we are pleased to provide financing for this new master-planned development that will help meet the need for more single-family homes,” said Grant Morrow, vice president of origination for Trez Capital, Central & Southwestern. “Lavon and the Rockwall area provide a vibrant, small-town feel for those families who want a quieter atmosphere but also need convenient access to Dallas – this development will offer just that.”

The phase one lots are expected to be delivered in late spring/early summer of 2024. 

Submitted press release.