News release

San Antonio retail center acquisition financed

JLL Capital Markets arranged a loan for Door Capital Partners’ purchase of Shops at Potranco

August 31, 2021

AUSTIN, Aug. 31, 2021 – JLL Capital Markets announced today that it arranged an acquisition loan for Shops at Potranco, a fully leased, 18,344-square-foot retail center in a growing area on the west side of San Antonio, Texas.

JLL worked on behalf of the borrower, Kiva-Door, LLC, the retail division of Austin-based Door Capital Partners, to place the seven-year, fixed-rate loan with The Bank of Austin. CSW Development, who developed the property in 2019, sold it to Door Capital Partners in a JLL-brokered transaction.

Shops at Potranco is home to a diverse mix of national and multi-unit tenants, including Orangetheory Fitness, Jersey Mike’s, Buffalo Wild Wings, SuperCuts, Taqueria Arandas, Pacific Dental and LV Nails. The center features a large pylon sign which, along with its elevated site, provides tremendous visibility to the more than 31,530 vehicles that pass by daily.

The center is situated on 2.34 acres at 10538 Potranco Rd. adjacent to an H-E-B Plus!-anchored retail center that helps drive traffic to the property. The area houses some of the top area employers that contribute to a daytime population, including more than 50,000 employees. Additionally, Shops at Potranco is in a dense but growing area with 27,740 new residences under construction. These new master-planned communities could add up to 80,000 new residents to the existing demographics, which include approximately 126,814 residents within a three-mile radius.

The JLL Capital Markets team representing the borrower was led Senior Director CW Sheehan and Analyst Matt Ctvrtlik. The JLL Retail Brokerage team representing CSW Development included Executive Vice President Tim Allen.

Door Capital Partners is a private equity firm that invests in hospitality and retail assets through Texas. Through a strategic international joint venture with KIVA, Door Capital Partners is expanding its retail portfolio in central Texas. KIVA is one of the largest developers of retail centers in Mexico.

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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Door Capital Partners

Door Capital Partners is a private equity firm that invests in hotel assets in order to increase its value, through strategic execution, efficient management and an impeccable customer service.

CSW Development

Central Southwest Texas Development, LLC (CSW Development) is a commercial real estate development and investment company located in Austin, Texas, focusing on small to mid-size retail development projects. CSW Development was formed in 2004 to assist growing community service providers with the implementation of their real estate strategy. The company pursue this goal by gaining an in-depth understanding of their client’s business model. From this, CSW Development can identify the real estate related metrics which are necessary to position its clients to achieve success.

Both as property owners and developers, CSW Development’s business practices are based in the belief that the long-term prosperity generated by its work and partners’ investment comes from the value added to the community at large. That value is the important and needed service of providing well maintained, competitively priced and fairly administered rental property to people who need space for their business.