North Texas developer Rex Glendenning has obtained a $17.5 million loan for a portion of his King Place subdivision in Celina, according to public records. The financing was secured through G-Man Development LLC, with Louisiana-based b1Bank providing the funds for a 78-acre section of the development.
King Place, platted in 2023, covers more than 400 acres just west of Celina. Additional parcels adjacent to King Place increase Glendenning’s total holdings in the area to 600 acres. The specific lot tied to the recent loan is Block C, which is located at the southwestern edge of the subdivision and borders both Dallas North Tollway and FM 428, now known as Glendenning Parkway.
Although official plans for land use on Block C have not been detailed, the broader King Place project is expected to include retail space, offices, hotels, and hundreds of single-family homes. This latest financing represents Glendenning’s largest loan for the project recorded in Collin County so far.
Rex Real Estate, Glendenning’s company, also has plans involving other nearby properties. The firm is marketing several mixed-use, commercial, and retail sites within close proximity to King Place along Dallas North Tollway and Glendenning Parkway. The company did not immediately respond to requests for comment.
Glendenning has played a prominent role in North Texas real estate over his four-decade career. He is noted for high-profile deals such as the sale of The Star—the Dallas Cowboys’ headquarters—and traces his family’s landholdings back to an original grant received by his great-grandfather in the 19th century.
The King Place development may become home to Rex Real Estate’s headquarters. It joins several other major projects near Celina led by developers including Seitz Group, Hillwood, Cedarwood, Celina Economic Development Corporation, Jerry Jones’ Blue Star Land, and Mehrdad Moayedi—an occasional collaborator with Glendenning.
