JLL arranges financing for Mansfield, Texas, apartments
Loan proceeds funded Hilltop Residential’s acquisition of the suburban Fort Worth multi-housing community
HOUSTON, January 15, 2020 – JLL Capital Markets announced today that it has arranged acquisition financing for a multi-housing community located in the Fort Worth suburb of Mansfield, Texas.
JLL worked exclusively on behalf of Hilltop Residential to arrange the four-year, interest-only, fixed-rate acquisition loan through a life insurance correspondent lender.
The community was completed in two phases in 2015 and 2017. The property, which is equidistant between downtown Fort Worth and Dallas, is situated along the newly expanded State Highway 360 near Lake Prairie Town Crossing, Grand Prairie Premium Outlets, Arlington Highlands and The Parks at Arlington. Residential units average 962 square feet and feature granite countertops, stainless steel appliances, kitchen islands, plank flooring, full-size washer and dryer connections and pet yards in select homes. Community amenities include a resort-style swimming pool, outdoor lounge, state-of-the-art fitness center, yoga room, dog park and available private garages.
The JLL Capital Markets debt placement team representing the borrower included Managing Directors Cortney Cole and Steve Heldenfels.
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 investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Headquartered in Houston, Hilltop Residential provides investors with tax-deferred income and capital appreciation by acquiring and renovating multi-family properties located in the southern United States. Hilltop invests in cities and neighborhoods with strong demographics and positive employment growth. For more information, visit livehilltop.com.