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News release

DALLAS, TX

Northern Suburbs Dominate the Hottest U.S. Housing Markets

JLL closes sale of Century Legacy Village in Plano, Texas and secures acquisition financing


DALLAS, October 20, 2015 – According to a recent study from Builder Magazine, a cluster of six North Texas suburbs dominate the top 10 healthiest U.S. housing markets.  Though the driving dynamics are no surprise; it’s our diverse economy, educated workforce and low housing prices that ranked Frisco, Texas in the top spot.  Additionally, those same desirable factors hold true in Plano, Texas, which ranks fourth on the list.

On behalf of Atlanta-based Centennial Holding Company, JLL Capital Markets Experts today announced the sale of Century Legacy Village, a Class A 328-unit luxury apartment community located minutes from Legacy Business Park and Legacy West in Plano, Texas.  A Dallas-based private real estate fund managed by Crow Holdings Capital – Real Estate and BK Real Estate Funds purchased the property.  JLL also secured acquisition financing for the property, with MetLife Real Estate Investors providing the loan.

Managing Director Jeff Price, Senior Vice President Bill Simmons and Associate Alisan Rutland led the JLL team on the transaction. Managing Director Tim Jordan, Executive Vice President Mark Brandenburg and Vice President Beverly Woodall drove financing efforts.

“Century Legacy Village is minutes from several suburban mixed-use destinations and corporate employment hubs.  North Texas is projected to benefit greatly from the increased multifamily demand from new projects like the Toyota and Liberty Mutual corporate campuses,” said Price.

Added Brandenburg, “This acquisition represents a tremendous opportunity, and we encountered a very high level of interest in the lending community because of the outstanding sponsorship, the tremendous strength of the metro Dallas apartment market and the quality of the community itself.”

The property is located at the corner of Spring Creek Parkway and Windcrest Drive, near Legacy Town Center, which is known for its premier mix of retail, dining and entertainment options.    

Century Legacy Village offers six one-bedroom floorplans, six two-bedroom floorplans and three two-bedroom floorplans that all feature oversized walk-in closets, built-in wine racks and nine-foot ceilings with crown mouldings.  Select units feature private fenced-in backyards, direct access garages and a kitchen island with built-in storage. 

Best-in-class amenities include a resort-style pool, dog park with pet washing station, 24-hour cardio theater, attached and detached garages, business center and valet trash service. 
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.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.  For more information about our capabilities in Dallas-Fort Worth, please visit the firm’s local Web page: http://bit.ly/1Tq3FjD.

About JLL
JLL (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. A Fortune 500 company 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 $56.0 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.