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News release

DALLAS, TX

Tertiary Multifamily Markets in Dallas are just as Desirable as In-Town Locations

JLL negotiates the sale of The Place in Mesquite, Texas 


DALLAS, December 3, 2015 – On behalf of Shore to Shore Properties, JLL Capital Markets experts today announced the sale of The Place, a 442-unit multifamily community, located at 3701 Towne Crossing Boulevard in Mesquite, Texas.  

Managing Director Jeff Price, Senior Vice President Bill Simmons and Vice President David Fersing led the JLL team on the transaction.   

The Place is a Class B garden style multifamily community, ten miles east of the Dallas Central Business District.  It provides residents lifestyle conveniences such as restaurant row, the Kroger anchored Towne Crossing Shopping Center and Town East Mall. 

The property was built in 1985 and is currently 96 percent occupied.  Community amenities include two side-by-side pools, community garden with outdoor grills and picnic tables, three laundry rooms and access to a large greenbelt with pet stations.

“In terms of overall rent growth, Mesquite is one of DFW’s strongest submarkets and value-add assets like The Place are particularly attractive to investors right now,” said Price.

According to MPF research, annual rent growth for vintage assets in the submarket reported a seven percent, as of year-to-date 2015. 

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 $57.2 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.