MF1 Capital Supplies $138M Refi on Texas Luxury Apartments

Dallas-based Carbon Companies has secured a $138.3 million bridge loan to refinance its multifamily development in Frisco, Texas, Commercial Observer has learned.

MF1 Capital provided the loan for Carbon Companies’ The Links on PGA Parkway project 33 miles north of Downtown Dallas, according to BayBridge Real Estate Capital, which arranged the financing. 

BayBridge arranged the transaction with a team led by Jay Miller, Spencer Miller, AJ Felberbaum, Gabe Stolar and Noah Rothman. 

The deal will refinance the first two phases of the project comprising 690 luxury apartments that opened in December 2021 and October 2023.

An additional 620 units are planned for the next two phases, for which Carbon is seeking construction financing for, according to BayBridge. 

Located at 15950 Paramount Way, the Links on PGA Parkway is a master-planned project next to walking trails and three miles from the golf association PGA of America’s national headquarters that opened two years ago. Community amenities include two swimming pools and fitness centers, a golf simulator and “complimentary” yoga classes, according to BayBridge. 

Spokespeople at MF1 Capital and Carbon Companies did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.