The Allen Group, developers of the Dallas Logistics Hub (DLH), a 6,000-acre multi-modal logistics park in Dallas, Texas, announced they have secured a $20 million bridge loan for the recapitalization of 1,031 acres within the DLH.
With the assistance of Holliday Fenoglio Fowler, LP, The Allen Group received a 36-month, adjustable-rate loan with American Bank of Texas.
‘Securing this loan is a tremendous statement of support for the Dallas Logistics Hub by American Bank of Texas,’ said The Allen Group Chief Financial Officer Ken Howell. ‘Achieving a financial transaction is tough in today’s capital markets; American Bank understands the significance of this project and its long term value creation.’
The land assemblage is located within the Dallas Logistics Hub, an Inland Port logistics park adjacent to Union Pacific’s Southern Dallas Intermodal Terminal, a proposed BNSF intermodal facility, four major highway connectors (I-20, I-45, I-35 and Loop 9) and Lancaster Airport, which is in the planning stage to facilitate air-cargo distribution.’ DLH, which spans across the communities of Dallas, Lancaster, Wilmer and Hutchins, is master-planned for 60 million square feet of distribution, manufacturing, office and retail developments.