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JLL secures $21 million in construction financing
DALLAS, March 9, 2015 – On behalf of Catalyst Urban Development, JLL’s Capital Markets experts today announced the firm has secured $20.8 million in construction financing for the first phase of the luxury multifamily development McKinney Urban Village, a mixed-use and health science district in the Dallas suburb, McKinney, Texas. Comerica provided the five-year, floating-rate loan.
Executive Vice President Jason Piering and Vice President Adam Mengacci led the JLL team on the transaction.
The proposed 249-unit multifamily development is located adjacent to the Medical Center of McKinney, Collin College, and other employment uses at the regional intersection of US75 and SH121. The community amenities include a clubhouse, fitness center, resort-style pool terrace, yoga lawn, community garden, walking trails and dog park.
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 a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
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About JLLJLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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