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News release

Dallas

Financing Spurs Rehab for Affordable Dallas Apartment Community

JLL secures acquisition and rehabilitation financing for Willow Pond Apartments


DALLAS, March 28, 2017 – JLL's Capital Markets experts today announced the firm secured financing for the purchase and rehabilitation of Willow Pond Apartments, an affordable 386-unit apartment community in Northeast Dallas. JCR Capital provided the loan to the buyer, S2 Capital.​

WillowPondEOM (12).jpgExecutive Vice President Mark Brandenburg led the JLL team on the financing.

"Willow Pond Apartments is a vital apartment community for the Dallas metro and one of the few in the area qualified for Low-Income Housing Tax Credits," said Brandenburg. "S2 Capital has a great deal of experience in making strategic capital improvements and this financing will help these apartments reach their full potential."  

The community consists of 37 two-story buildings. It is located less than two miles from The Central Expressway, which connects residents to the nearly 12 million square feet of office space and 2.5 million square feet of retail space located along the thoroughfare.

S2 Capital plans to upgrade the unit and community finishes including interior and exterior paint, flooring, cabinetry, bedroom and bathroom fixtures, a new dog park, upgraded laundry room and pool, and a revamped resident clubhouse. The upgrades will give residents access to housing normally found in newer vintage properties, all while maintaining its present value and LURA LIHTC compliance. 

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.