JLL Capital Markets announced today that it has arranged acquisition financing for a multihousing community located in the Fort Worth suburb of Mansfield, Texas.
JLL worked exclusively on behalf of Hilltop Residential to arrange the four-year, interest-only, fixed-rate acquisition loan through a life insurance correspondent lender.
The community was completed in two phases in 2015 and 2017. The property, which is equidistant between downtown Fort Worth and Dallas, is situated along the newly expanded State Highway 360 near Lake Prairie Town Crossing, Grand Prairie Premium Outlets, Arlington Highlands and The Parks at Arlington. Residential units average 962 square feet and feature granite countertops, stainless steel appliances, kitchen islands, plank flooring, full-size washer and dryer connections and pet yards in select homes. Community amenities include a resort-style swimming pool, outdoor lounge, state-of-the-art fitness center, yoga room, dog park and available private garages.
The JLL Capital Markets debt placement team representing the borrower included Managing Directors Cortney Cole and Steve Heldenfels.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.