DALLAS – June 6, 2022 – Granite Properties, a commercial real estate investment, development, and management company, today announced it has secured construction financing with Bank OZK (Nasdaq: OZK) for Granite Place II at Southlake Town Square. The Class-AA, 5-story, 143,500 square feet office building will be located in Southlake, TX, a highly desired suburb of Dallas-Fort Worth. In addition, N5B Capital has become Granite’s joint venture equity partner at the future Granite Place II, and will be relocating their headquarters to the building. General contractor, DPR Construction, has begun site work to deliver the building in March 2023.

Trey Morsbach and Jim Curtin of JLL Capital Markets brought in Bank OZK for the construction financing transaction. Ryan Langston of N5B Capital represented N5B Capital in the joint venture equity transaction.

“Granite is excited to expand our work with Bank OZK. Their financing represents confidence in Granite Place II and the strong relationship between our two companies. We’re also happy to have the opportunity to partner with N5B Capital and provide them with their new headquarters. We look forward to working together to deliver this high-quality office environment in Southlake” said Will Hendrickson, Senior Managing Director, Granite Properties. “Granite Place II has already generated a lot of interest from companies drawn to Southlake. Granite Place I has been in incredibly high demand and is currently 100% leased,” he added.

Bank OZK, through its Real Estate Specialties Group (RESG), provides financing on commercial real estate projects throughout the nation. RESG is considered a preeminent, market-leading construction lender focused on senior secured financing for a variety of property types including mixed-use, multifamily housing, condominiums, office, hospitality, life sciences, industrial and retail. During the five years ending December 31, 2021, RESG originated approximately $35 billion in new commercial real estate construction loans.

“Granite delivered a resounding success with Granite Place I, and Bank OZK looks forward to partnering with Granite on Phase II,” said Ako Dickson, EVP Originations with Bank OZK. “We are excited to enter into our fourth deal with the Granite family, continuing to grow Bank OZK’s relationship with Granite.”

N5B Capital focuses on equity investments and is the family office of the Jones family, founders of Goosehead Insurance (NASDAQ: GSHD). Goosehead previously leased office space at Granite Tower at 290, and is currently a customer at Granite’s Weslayan Tower, both located in Houston.

“We are extremely excited to be partnering with Granite Properties on this transaction. Southlake Town Square will provide an amenity rich environment for the tenants of Granite Place II, adding much needed commercial real estate capacity to Southlake, TX. We are delighted to locate our headquarters in Granite Place II.” commented Mark Jones, Managing Director and Chief Executive Officer of N5B Capital. “We look forward to a long and successful relationship with Granite Properties on future projects.”

Granite Place II is designed to achieve LEED and Fitwel certifications. Its modern amenities include outdoor work and meeting space, a corporate living room, fitness center, and grab-and-go food service. The building will feature clean air technology in the HVAC system, handsfree entry doors, and touch-free fixtures in restrooms.

Located at 601 State Street (adjacent to Granite Place I) Granite Place II provides direct ingress/egress to East Highway 114. The building is at Southlake Town Square, offering more than 120 shops, dozens of restaurants, luxury townhomes and condominiums, a Hilton hotel, and EVO Entertainment.

Granite’s leasing team Robert Jimenez, Burson Holman and Elizabeth Fortado is leasing Granite Place II.

About Granite Properties
Granite Properties is a privately held commercial real estate investment, development and management company founded in 1991. The firm owns 11 million square feet of high-quality office space in Dallas, Houston, Atlanta, Denver, Southern California, and Nashville. Granite is an established investor, developer, and manager with a focus on sustainable, high-quality projects. It has completed more than $8 billion in real estate transactions and more than 29 million square feet of real estate development and acquisitions. Current active development projects in Atlanta, Boston, and Dallas total over 2 million square feet with total costs over $1.5 billion. Granite focuses on creating extraordinary customer experiences through mixed-use environments, rich amenities, customer-centric service, and innovative wellness features. The firm has been named one of Fortune Magazine and Great Place to Work Best Workplaces nine consecutive years. For more information, visit: graniteprop.com.