It’s done: Developer lands $67M loan for massive $380M project

The development group behind the massive $380 million redevelopment in downtown Dallas — called The Drever — at 1401 Elm St. has landed a nearly $67 million bridge loan, as expected, from a big capital group on the East Coast.

Real estate sources told the Dallas Business Journal a development group led by longtime developer Maxwell Drever had a loan keyed up to help financially after a lender claims the group defaulted on a $55 million loan. That lender, GCP Income Opportunities I LLC, appointed…

[source: http://feeds.bizjournals.com/~r/bizj_dallas/~3/gTXX0rKVMDY/its-done-developer-lands-67m-loan-for-massive-380m.html]