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News release

AUSTIN

JLL secures refinancing for retail centers in high-growth suburbs


AUSTIN, Texas, June 1, 2017 – JLL's Capital Markets experts today announced the firm secured $4.6 million in refinancing for a pair of fully occupied boutique neighborhood retail centers in suburban Austin.

Managing Director Jimmy Board and Associate Jarrod McCabe led JLL's team on the financing on behalf of Durhman & Bassett. Bank of America provided the 10-year, fixed-rate loan at an interest rate of 4.35 percent.

The retail centers, Elgin Village and Cedar Breaks Centre are located in the fast-growing Austin suburbs of Elgin and Georgetown, respectively, and are adjacent to top-performing, newly constructed HEB grocers, enhancing the retail draw of their respective locations.

"These assets are well positioned within rapidly growing suburban submarkets," said Board. "With strong surrounding demographics and multiple subdivisions planned near each retail center, this made for an attractive lending opportunity."

The 19,628-square-foot Elgin Village is 25-miles northeast of Austin, at the intersection of U.S. Highway 290 and W 11th Street in Elgin. The retail center's main tenants include Anytime Fitness, Family Total Dental and Domino's.

The 9,240-square-foot Cedar Breaks Centre is just 30 miles north of downtown Austin at 4506 Williams Drive in Georgetown. Notable tenants include Castle Dental, Great Clips, Centennial Wealth Advisory and Texan Urgent Care.

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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 the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 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.