Price Realty Secures $57M Refinancing for Standard at CityLine Apartments in Richardson

Price Realty Corporation has secured a $57 million refinancing deal for The Standard at CityLine, a 403-unit apartment complex at 1125 East Renner Road in Richardson, Texas, according to Northmarq, which arranged the financing. New York Life provided the five-year, fixed-rate loan. The property, which opened in 2015, offers one- and two-bedroom units with a pool, grills and wellness studio. It sits within the 186-acre CityLine mixed-use district, the corporate campus for State Farm that Dallas-based KDC began developing in 2013. The refinancing follows investor Robert Sarver's 2023 purchase of CityLine's 2.2 million-square-foot office complex from a joint venture of Mirae Asset Global Investments and Transwestern Investment Group — one of the year's largest property trades. KDC received Richardson City Council approval in July 2024 to add 5,100 apartment units at the site over eight years.