JV Secures $98M Refi for Dallas Luxury Condo Project
Construction is scheduled to finish early next year.
A joint venture between USA Infrastructure Investments and SVAG has obtained a $97.5 million senior construction loan for Rosewood Residences Turtle Creek, a luxury residential development in Dallas. University Place Asset Management and Axonic Capital provided the loan, which will refinance the current construction loan, replenish interest reserves and help complete development of the project.
Rosewood Residences Turtle Creek, which recently topped out and will be managed by Rosewood Hotels & Resorts, will be 17 stories high and comprise 33 luxury condominiums ranging from 2,000 to 6,380 square feet. Construction is expected to finish by the end of summer 2026, and sales of units began in March of this year.
The property will include a rooftop infinity pool, garden, dining room, dog park and pet spa. Other amenities include 24-hour valet and security services, EV charging stations and a private residential porte-cochere.
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Architect Lucien Lagrange designed the luxury tower, with interior design being provided by Dan Fink Studio.
Located at 3555 Dickason Ave. in Dallas’s Turtle Creek neighborhood, the property is situated within a few blocks of both Turtle Creek Boulevard and Dallas North Tollway.
Luxury hotel firm expands residential portfolio
Known for its luxurious hotels across the world, Rosewood Hotels & Resorts has also turned to developing standalone residential properties in recent years. These include a mix of owned units and rentals.
Rosewood Residences Beverly Hills opened earlier this year and includes 17 luxury units ranging from 3,000 to over 7,000 square feet, according to Globetrotter. Other standalone residential properties under construction include Rosewood Residences Naples and Rosewood Residences Miami Beach, both in Florida.
New supply in Dallas luxury market
New luxury communities continue to pop up in Dallas. Another luxury property coming to the same neighborhood as Rosewood Residences is Vivante Turtle Creek, which will be a 193-unit senior living community. The project broke ground earlier this year. And in May, a joint venture between Toll Brothers Apartment Living and Pondmoon Capital USA opened Mirra, a 285-unit luxury community in Fisco Texas, a submarket of Dallas.
