Big V Property Group has completed the acquisition of a 7.39-acre parcel in Anna, Texas, adjacent to the Rosamond Town Center project. The purchase was facilitated by an $11 million acquisition and construction loan secured from a regional bank. The funds will support the new land purchase and provide capital to advance development on additional parcels already owned by the company.
The new land is situated next to Rosamond Town Center, a 355,826-square-foot open-air retail center that broke ground in June. The development is a joint venture between Big V Property Group, The Seitz Group, and Principal Asset Management. Planned anchors for the center include Academy Sports + Outdoors, Aldi, Burlington, EOS Fitness, Hobby Lobby, HomeGoods, PetSmart, and T.J.
Maxx. The site is located at the southeast corner of Rosamond Parkway and Highway 75.
Kenton McKeehan, President and Chief Investment Officer of Big V Property Group, stated that demand for the company’s Anna properties has been significant. He noted that the new parcel will allow for the construction of a detention pond to protect the area and enable building on two additional parcels near a national retailer.
McKeehan described the expansion as a way to create a larger destination for shopping, dining, and recreation for Anna and surrounding towns.
Bryan Kallenberg, Vice President of Capital Markets for Big V Property Group, led the team that secured the financing. He characterized Anna as one of the fastest-growing submarkets in North Texas, noting that tenant interest has been strong since the project’s inception. Kallenberg described the lender partnership as an endorsement of the asset and the underlying strategy.
