New Dallas Community Secures $79M Refi
The project had been in development for nearly three years.
Conor Commercial Real Estate and Globe Corp. have refinanced The Flynn at Live Oak, a five-story, 327-unit luxury multifamily community in Dallas with a $78.3 million construction takeout loan arranged by JLL Capital Markets.
The loan was secured through funds managed by Blue Owl Capital Inc.
The Flynn at Live Oak, which broke ground in April 2024, previously secured a $48.5 million loan from Wintrust Bank in July 2023, according to Yardi Matrix data. The joint venture, which included Origin Investments, publicly unveiled plans for the project in October 2023.
The Flynn at Live Oak has 271,931 square feet of residential space and a mix of studios, one- and two-bedroom apartments. Floorplans range from 610 to 1,471 square feet, with an average of 881 square feet, according to Yardi Matrix. Rents range from $1,630 to $3,700, with a mean of $2,539, the same source shows.
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Apartments feature stainless steel appliances, quartz countertops, hardwood-style flooring, glass-enclosed showers, washers, dryers and balconies or patios in select units.
Community amenities include a pool, two outdoor courtyards with fire pits and grilling stations, a sky lounge with downtown views, a fitness center, an outdoor yoga space, a coworking office and a grab-and-go convenience store. The property has 420 parking spots with electric vehicle charging stations on every garage level.
Located at 4931 Live Oak St. in the East Dallas submarket, the property is close to several Dallas entertainment districts including Lower Greenville, Deep Ellum, Henderson Avenue and Knox District. Residents are within walking distance of restaurants, bars and cultural venues.
Greystar is the property manager for the community. Merriman Anderson Architects designed the community and Cadence McShane Construction Co. headed up contracting. Both Conor Commercial Real Estate and Cadence McShane are part of the McShane Cos., based in the Chicago area. Earlier this year, Cadence McShane and Merriman Anderson Architects were part of the team that delivered The Preserve at Mustang Creek, an $88 million, 252-unit affordable housing community in the Austin suburb of Red Rock, Texas, for Broadway Street Development.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Lucas Borges, Senior Director Lauren Dow, Director Sam Tarter and Senior Analysts Aidan Flanagan and Christian Johnston.
New construction slows in region
The Dallas-Fort Worth area is one of the top regions in the nation for population growth, fueled by corporate expansion and relocation. Scotia Bank opened a regional headquarters in the Victory Park neighborhood earlier this year, adding 1,000 jobs to the Metroplex.
The region ranked first in population growth as of March, adding more than 100,000 new residents and about 47,000 new households, year-over-year, according to Marcus & Millichap’s 2Q 2026 Dallas-Fort Worth Multifamily Market Report. The report notes the region is recording lower multifamily vacancies, with an overall rate of 6.6 percent, down 40 basis points from the previous year. East Dallas saw the tightest rate in the Metroplex at 5.0 percent, following a 90-basis-point year-over-year decline as of March.
Construction is expected to moderate this year, with Dallas accounting for about 78 percent of the current pipeline of 21,000 units expected to come online, according to the same source.
