Areté Collective and the Wasatch Group have successfully secured a $106 million financing for their joint project, Thomas Ranch. This residential community is located in Spicewood, Texas and spans 2,200 acres in the beautiful Texas Hill Country.
The non-recourse bond was underwritten by D.A. Davidson’s Development Finance Group and will provide the necessary funds to complete public infrastructure as well as support initial phases of residential development including a new apartment complex.
Once fully developed, Thomas Ranch will offer 3,500 units at various price points in distinct neighborhoods. The downtown area will feature over 465,000 square feet of commercial real estate for retail shops, a hotel, restaurants,and office space.
Located along the Pedernales River and Lake Travis just 30 miles north of Austin,Texas,this venture is sure to attract residents looking for both natural beauty and urban amenities.
