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

DALLAS--(BUSINESS WIRE)--Aug 6, 2025--

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.

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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 18-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 early 2026. For more information, please visit: 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.

The Rosewood Residences at Turtle Creek (Photo: Preston Cheng)

JOHANNESBURG (AP) — South Africa's World Cup squad departed for the tournament a day late on Monday and left its assistant coach behind after problems securing travel visas for the United States.

South Africa plays co-host Mexico in the opening game of the World Cup on June 11 in Mexico City. It plays one of its group games in the U.S.

The team was due to depart on Sunday but that was delayed because it had not received visas for some players and staff members, the sports minister said.

Sports Minister Gayton McKenzie posted on X that the “debacle” over visas was caused by an administrative error by team officials and called it embarrassing. He demanded a report from the South African Football Association.

"We are being made to look like fools," McKenzie wrote on social media.

The association said on Monday it had secured visas for all the players and they departed from Johannesburg on a charter flight on Monday afternoon. However, SAFA President Danny Jordaan said assistant coach Helman Mkhalele was initially refused a visa by the U.S., with no reason given, and his travel documents were still outstanding.

“We hope that will also be resolved and all of our people will be going,” Jordaan told reporters at OR Tambo International Airport.

SAFA apologized for the 24-hour delay and said it received help from the South African Foreign Ministry and the U.S. Consulate in Johannesburg to resolve the visa problems.

South Africa will play at the World Cup for the first time since hosting in 2010. It also faces the Czech Republic in Atlanta and South Korea in Monterrey, Mexico, in Group A. The squad will be based in the Mexican city of Pachuca and plays a final warmup game there against Jamaica on Friday.

South Africa's team management came under scrutiny for an administrative error in World Cup qualifying when midfielder Teboho Mokoena played in a game against Lesotho despite being suspended. South Africa was stripped of its victory, threatening its hopes of qualifying.

The team overcame that to qualify top of its group by one point.

AP World Cup: https://apnews.com/hub/fifa-world-cup

FILE - South Africa players pose for a team photo before the Africa Cup of Nations group B soccer match between Angola and South Africa in Marrakech, Morocco, Monday, Dec. 22, 2025. (AP Photo/Themba Hadebe, File)

FILE - South Africa players celebrate their side's third goal during a World Cup 2026 group C qualifying soccer match between South Africa and Rwanda at Mbombela Stadium, in Nelspruit, South Africa, Oct. 14, 2025. (AP Photo/Themba Hadebe, File)

FILE - South Africa players celebrate after a World Cup 2026 group C qualifying soccer match between South Africa and Rwanda at Mbombela Stadium, in Nelspruit, South Africa, Oct. 14, 2025. (AP Photo/Themba Hadebe, File)

FILE - South Africa's Oswin Appollis celebrates after scoring his side's second goal during a World Cup 2026 group C qualifying soccer match between South Africa and Rwanda at Mbombela Stadium, in Nelspruit, South Africa, Oct. 14, 2025. (AP Photo/Alfonso Nqunjana, File)