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News release

Dallas

Transit-Oriented Multifamily Project Trades in Northwest Dallas

JLL completes sale of Maple District Lofts


​​​​DALLAS, Feb. 28, 2017 – On behalf of Lang Partners LLC, JLL's Capital Markets experts today announced the sale of Maple District Lofts, a recently-completed, best-in-class multifamily asset located in Dallas's Medical District. Sherman Residential purchased the 342-unit building.​

Managing Director Jeff Price and Senior Vice President Jorg Mast led the JLL team on the transaction.​​

Maple district Lofts.jpg"This is an exceptional asset built to the highest standards, located in one of the Dallas metro's most sought-after submarkets," said Price. "Developers and investors alike are keenly aware of tenants' rising standards of living in the city's urban core, and Maple District Lofts checks every box on the 'live, work, play' checklist: outstanding amenities, a transit-oriented location and proximity to areas of employment growth."

Added Mast, "With the city's continued job growth, we expect tenant and investor demand for such high-quality product to persist throughout the year."

The four-floor building is located two miles from Dallas Love Field near the intersection of the city's growing Medical District, Highland Park Village and Oak Lawn submarkets northwest of downtown. It is two blocks from the nearest DART station, providing resident access to the city's downtown and the airport. Commuters have almost immediate access to Interstates 30 and 35, the Dallas North Tollway, and U.S. 75. ​

Units feature 10-12-foot ceilings, stained concrete floors, full-sized washer/dryer, oversized soaking tubs, stainless steel kitchen appliances, quartz and granite slab countertops.  Some homes have private rooftop decks. Community amenities include a resort-style swimming pool, fitness center, a sport lounge with outdoor kitchen, outdoor seating with fire pits, and a bocce ball court and life-sized chessboard.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.