SMBC Refis Apartments near Dallas, Philly With $108M Loan
The multifamily portfolio covers nearly 600 units in Richardson, Texas, and King of Prussia, Pa.
By Andrew Coen October 16, 2026 11:16 am
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The Philadelphia Eagles and Dallas Cowboys are longtime fierce rivals in the National Football League’s NFC East, but the two markets have a common link in one of commercial real estate’s latest multifamily financings.
Ares Real Estate has inked a $107.5 million loan to refinance an apartment portfolio in the Dallas-Fort Worth and Philadelphia areas that together include nearly 600 units, Commercial Observer can first report.
Sumitomo Mitsui Banking Corporation (SMBC) provided the loan for Ares’ Axis 110 property in Richardson, Texas, and for Skye 750 in King of Prussia, Pa.
CBRE arranged the transaction with a global institutional debt advisory group consisting of Tom Traynor, Tom Rugg, Peter Griesinger, Arman Samouk and Kayla Kaloostian.
The 2017-built Axis 110 at 110 W CityLine Drive in Richardson has 351 apartments next to the Dallas Area Rapid Transit CityLine Station. Resident amenities include a swimming pool, a skyline terrace, a fitness center and 8,110 square feet of ground-floor retail.
Skye 750, at 750 Moore Road 20 miles northwest from Philadelphia, was completed in 2019 with 248 units. Its amenities include a swimming pool, a fire pit, a dog park, coworking space, a health club and a sauna.
SMBC did not immediately return a request for comment. Ares declined to comment
Andrew Coen can be reached at acoen@commercialobserver.com.
