Price Realty Secures $57 Million for The Standard

The Standard at CityLine in Richardson has obtained a new five-year fixed-rate refinancing loan from New York Life.

Updated on Oct. 21, 2026 in Commercial

Price Realty Secures $57 Million for The Standard

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Price Realty Corporation has successfully secured a $57 million refinancing loan for The Standard at CityLine, a 403-unit apartment complex located at 1125 East Renner Road in Richardson. The financing deal was arranged by Northmarq to support the property, which first opened in 2015.

Why it matters

This financing transaction underscores the continued commercial activity within the 186-acre CityLine district. The area remains a focal point for large-scale development as Richardson works to expand its residential and office footprints.

The Standard at CityLine consists of 403 apartment units. The property is situated within the broader 186-acre CityLine development, which includes a 2.2 million-square-foot office complex occupied by State Farm.

The players

Price Realty Corporation

This is the real estate investment firm that owns and manages The Standard at CityLine.

New York Life

This is a major life insurance and financial services company that provided the $57 million loan.

Northmarq

This is a national commercial real estate capital services provider that arranged the financing.

Richardson City Council

This is the local governing body responsible for municipal zoning and development approvals in Richardson.

State Farm

This is a large insurance corporation that serves as a primary office tenant in the CityLine development.

The details

Northmarq served as the arranger for the transaction with New York Life, which provided the five-year fixed-rate financing. The development is part of a larger district that continues to see significant growth, including plans for 5,100 additional apartment units approved by the Richardson City Council in July 2024.

2013 marked the start of development for the 186-acre CityLine district.
The Standard at CityLine apartment property opened in 2015.
Robert Sarver purchased the CityLine office buildings in 2023.
Richardson City Council approved 5,100 additional apartment units in July 2024.

Culture Shift

The financing for The Standard follows the recent density expansion established by the Richardson City Council's July 2024 approval of 5,100 additional apartment units at CityLine. This aligns with a broader push to increase residential capacity in suburban office-adjacent districts over the coming eight years.

Residents of the CityLine area can expect continued construction activity as the city moves toward developing 5,100 new apartment units over the next eight years. This ongoing development reflects the district's status as a major commercial hub for the Richardson community.

The takeaway

The successful refinancing of this large apartment complex highlights the ongoing institutional investment in the Richardson market. Homebuyers and renters in the region should monitor the upcoming multi-year construction pipeline for potential changes to local housing density.