Areté Collective and the Wasatch Group have successfully secured a $106 million financing deal for their residential community, Thomas Ranch, located in Spicewood, Texas. The funds were obtained through a non-recourse tax-exempt bond underwritten by D.A. Davidson’s Development Finance Group. This financing will provide the necessary resources for the developers to implement their 2,200-acre master plan in the beautiful Texas Hill Country.
The primary purpose of this funding is to complete essential public infrastructure and support initial phases of residential development including construction of an apartment complex.
Once fully developed, Thomas Ranch will feature 3,500 units across various price points and types within distinct neighborhoods. Additionally, there will be over 465,000 square feet of commercial real estate available downtown with retail spaces as well as a hotel offering restaurants and office space.
Strategically located along Pedernales River and Lake Travis just 30 miles north of Austin,Texas; Thomas Ranch offers residents scenic views amidst nature’s beauty while still being close enough to city amenities.
