Areté Collective and the Wasatch Group have successfully secured a $106 million financing for their Thomas Ranch project in Spicewood, Texas. The non-recourse bond, underwritten by D.A. Davidson’s Development Finance Group, will provide the necessary funds to implement the 2,200-acre master plan for this residential community in the Texas Hill Country.
The main purpose of this financing is to complete public infrastructure and support initial phases of residential development including a new apartment complex. Once fully developed, Thomas Ranch will offer 3,500 units across various price points and types in distinct neighborhoods. It will also feature over 465,000 square feet of commercial real estate including retail spaces, a hotel,
restaurants,
service establishments,
and office space within its downtown area.
Located along the Pedernales River and Lake Travis just 30 miles north of Austin,Texas ,Thomas Ranch is set to become an attractive destination for both residents and businesses alike.
