ROUND ROCK, TEXAS — Newport Beach California-based Mark IV Capital has received an $86 million construction for the first phase of The District in Round Rock, a master-planned, mixed-use project in Round Rock approximately 20 miles north of Austin. The lenders were BDT & MSD Partners and an affiliate of Apollo (NYSE: APO). George Smith Partners arranged the financing. Mark IV acquired the site from Dell Technologies in 2016 and has since been finalizing planning and entitlements.
Loan proceeds will fund vertical construction of Phase I, which consists of a seven-story building with 316 units situated above 23,042 square feet of ground-floor retail. Units will be offered as studio, one- and two-bedroom layouts. Phase I’s amenities include a pool deck with a cold plunge, dry sauna, outdoor entertainment areas, a clubhouse lounge and a fitness center.
Phase I also includes a 40,750-square-foot food and beverage plaza across six standalone buildings, with tenant spaces ranging from 1,500 to 11,750 square feet. At full buildout, The District will include approximately 4 million square feet of residential, retail, hospitality and office components. Completion of Phase I is slated for the first quarter of 2028.