FORE Announces Financing of Luxury Apartments in the Greater Dallas Metroplex

"Securing financing, given today's turbulent economic conditions, highlights that there is still a need for high quality apartment communities in the right locations," commented Richard Fore, of Fore Property Company. "This was an outstanding effort by the FORE team and we look forward to working with two great institutions, Fidelity and the Bank ofTexas, in providing the city ofMcKinney with a brand new luxury community."

Stonebrook Villas, a 216-unit Class A development will be built near the intersection of Custer Road and Virginia Parkway. The community is in close proximity to the Technology Corridor and a variety of restaurants and retail-including Stonebriar Centre Mall, Shops on the Green and McKinney Town Crossing. Stonebrook Villas is conveniently located near major transportation arteries, offering easy access to downtownDallas. The Dallas Area Rapid Transit (DART) has two transit centers just 10 miles from the site inPlano, which will allow further access to the greaterDallas/Fort Worth area.

The two and three story garden-style buildings will consist of one-, two- and three-bedroom apartment homes and will range in sizes from 880 to 1,240 square feet. This community will offer amenities and finishes in line with today's Class A apartments, including a 3,550 sq. ft. modern clubhouse, state-of-the art fitness facility, multi-purpose entertainment lounge, and a resort style swimming pool. FORE believes their competitive advantage in this market will stem from innovative designs, hotel quality property management services and the inclusion of green features to satisfy an unmet need in the market.

FORE is continuing with the development process and construction should begin as scheduled at the end of October.

Fore Property Company (FORE) is a full service, national real estate company with over 30 years of experience in developing, constructing and managing communities. FORE has built over 17,500 apartment units in over 70 communities in 14 states and 34 cities. For additional information about Fore Property Company and all of their communities visit: www.foreproperty.com.

    For more information, contact:
    Rebecca Fore, 800-366-5724 ext. 4110
    rebeccafore@foreproperty.com

SOURCE Fore Property Company

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Tags: ,RLT,FIN,FNC,TX-FORE-Financing

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