North Texas developer Rex Glendenning has obtained a $17.5 million loan for a portion of his King Place development in Celina. The financing was arranged through his company, G-Man Development LLC, with Louisiana-based b1Bank providing the funds. According to public records, the loan is secured by a 78-acre lot within the King Place tract.
King Place subdivision, which was platted in 2023, covers more than 400 acres west of Celina. Additional parcels adjacent to King Place bring Glendenning’s total holdings in the area to about 600 acres. The specific lot tied to this loan is Block C, located at the southwestern edge of the subdivision near Dallas North Tollway and FM 428, recently renamed Glendenning Parkway.
The overall plans for King Place include retail space, offices, hotels, and several hundred single-family homes. The details on how each section will be used have not been officially released. This latest loan represents Glendenning’s largest financing arrangement for King Place recorded so far in Collin County.
Rex Real Estate, another company owned by Glendenning, is also marketing mixed-use, commercial, and retail properties nearby along Dallas North Tollway and Glendenning Parkway. The company did not immediately respond to requests for comment.
Glendenning has been active in North Texas real estate for four decades and has been involved in significant transactions such as the sale of The Star—the headquarters complex for the Dallas Cowboys. His family’s connection to land ownership in the region dates back to a grant received by his great-grandfather in the 19th century.
King Place may eventually serve as headquarters for Rex Real Estate. Several other developers are working on residential or commercial projects near Celina, including Seitz Group, Hillwood, Cedarwood, Celina Economic Development Corporation, Jerry Jones’ Blue Star Land, and Mehrdad Moayedi.
