JLL Capital Markets announced that it has arranged a construction loan for The Grove at La Frontera, a to-be-built, best-in-class mixed-use multi-housing community located within the DFW metroplex in Arlington, Texas. Once complete, the Grove at La Frontera will feature three distinct uses, which include 336 mid-rise apartments, 60 bungalow-style single-family rental units and 10,000 square feet of ground-floor retail.
JLL worked on behalf of the borrower, Zale Properties, to secure the four-year, fixed-rate loan through Principal Asset Management.
With an anticipated completion of 2025, The Grove at La Frontera will provide a unique mix of single-family rentals and mid-rise multi-housing accommodations, which include one-, two- and three-bedroom floorplans. The units will feature full-size washer/dryers, spacious walk-in closets, quartz and granite countertops, nine- to 12-foot ceilings, hardwood-style flooring, stainless steel appliances, private balconies and dual sink vanities.
Situated at 8100 South Collins St., the site is located directly fronting Debbie Lane, which is currently undergoing an expansion from two lanes to a four-lane divided road. The intersection of Debbie Lane and Matlock Road is less than one mile from the project and serves as the primary thoroughfare that connects residents with a dense set of retail and entertainment options in the immediate area, as well as a robust highway system that provides access to both Dallas and Fort Worth.
The property is just a 25-minute drive to Fort Worth’s Sundance Square and a 30-minute drive to Uptown Dallas. Residents of The Grove at La Frontera will also be only 3.4 miles away from Mansfield Town Center and Mansfield Towne Crossing, which are two high performing shopping centers that are adjacent to one another and boast more than 7 million combined visits per year. Additionally, nearby lifestyle and entertainment attractions include the 7,400-acre Joe Pool Lake, Mansfield National Golf Club, Downtown, Hawaiian Falls Water Park, AT&T Stadium and Globe Life Park, Texas Live!, Six Flags Over Texas and Hurricane Harbor.
The JLL Capital Markets team was led by Senior Managing Director John Brownlee, as well as Bo Beidleman and Chad Lisbeth.
