JLL Arranged Refinancing of a 224-unit Apartment Community The Jones in Arlington Texas

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The Jones
Built in 1977, the two-story apartment community features studio, one-, two- and three-bedroom units with balconies/patios, spacious walk-in closets, central air and heating, dishwashers, refrigerators and washer and dryer connections. The property is currently amid a capital improvement initiative, with renovations completed on nearly 50% of the units, as well as all building exteriors, and the construction of a new leasing office.

JLL Capital Markets announced that it has arranged the refinance of The Jones, a 224-unit, garden-style apartment community located within the DFW metro in Arlington, Texas.

JLL represented the borrower, WindMass Capital, to secure a floating-rate loan through Benefit Steet Partners. Notably, this refinance marks the beginning of a new relationship between both parties. Considering WindMass’ growth and investment strategy coupled with the wide array of products offered by Benefit Street Partners, the relationship is expected to be rewarding in the coming years.

Situated at 2109 Lincoln Drive, The Jones offers residents excellent access to the area’s major thoroughfares, Highway 360 and Interstate 30, and is a 25-minute commute to downtown Fort Worth and downtown Dallas. Proximate neighborhood amenities of the property include AT&T Stadium, Texas Live!, Globe Life Field, Texas Rangers Golf Club, Lake Viridian and numerous shopping and dining options.

The JLL Capital Markets Debt Advisory team was led by Managing Director Kris Lowe and Director Kristi Leonard.

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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.