CORRECTING and REPLACING University Place Asset Management and Axonic Capital Provide $97.5M Senior Construction Financing to Developers of Rosewood Residences in Dallas

Rosewood Residences Turtle Creek will be a 17-story, 33-unit luxury condominium project in historic Dallas neighborhood

DALLAS--(BUSINESS WIRE)--Please replace the release dated August 6, 2025 with the following corrected version due to multiple revisions.

The updated release reads:

UNIVERSITY PLACE ASSET MANAGEMENT AND AXONIC CAPITAL PROVIDE $97.5M SENIOR CONSTRUCTION FINANCING TO DEVELOPERS OF ROSEWOOD RESIDENCES IN DALLAS

Rosewood Residences Turtle Creek will be a 17-story, 33-unit luxury condominium project in historic Dallas neighborhood

University Place Asset Management (“UPLAM”) and Axonic Capital LLC (“Axonic”) today announced the closing of a $97.5 million senior construction loan to developer One Turtle Creek LP for Rosewood Residences Turtle Creek, a new luxury residential project in Dallas’s historic Turtle Creek neighborhood.

UPLAM and Axonic worked as co-lenders on the transaction, which will refinance the existing construction loan, replenish interest reserves and provide the capital required to complete the development of the condominiums. Other terms of the transaction were not disclosed.

“The building just recently topped out and sales are already exceptionally strong,” says Ameesh Agarwal, Co-Founder & Chief Investment Officer for UPLAM. “We believe this is among the most luxurious residential projects in Dallas, which makes it an excellent investment in a thriving market.”

The 17-story development will feature 33 ultra-luxury condominiums ranging from 2,000 to 6,380 square feet, offering unparalleled views of the Dallas skyline and the scenic Turtle Creek neighborhood. In addition to a rooftop oasis and infinity pool, the project also offers a host of hospitality-focused amenities, including a private garden, private dining room, secure dog park and pet spa.

“Rosewood Residences Turtle Creek represents the premier turn-key luxury residences for high-end buyers in Dallas and aligns with the demographic trends we are observing in the market. We believe Rosewood is the perfect brand to appeal to not just local buyers, but also other domestic and international luxury homebuyers,” said Eric Sitman, Managing Director and Portfolio Manager at Axonic. “Axonic worked quickly and nimbly with the developer to provide this timely financing despite the challenging circumstances with the prior lender, ensuring that this in-demand development remains on track to be completed efficiently.”

Completion of Rosewood Residences Turtle Creek is anticipated in summer 2026. For more information, please visit: https://residencesturtlecreek.com/.

About University Place Asset Management

Founded by property owners, developers, and investors Mark Moskowitz and Ameesh Agarwal, University Place Asset Management (“UPLAM”) is a forward-thinking global investment firm focused on alternative investments in real estate, credit and private equity. Its emphasis is on opportunistic, value-oriented, asset classes. For more information about UPLAM, please visit https://www.uplam.com/

About Axonic Capital

Founded in 2010, Axonic Capital is an alternative investment manager with expertise in commercial and residential real estate debt and equity, structured credit, and systematic fixed income. Axonic Capital manages over $6 billion in assets across a range of investment products, including private limited partnerships, separate accounts, and publicly listed mutual and interval fund structures. For more information, please visit www.axoniccap.com.