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| Alanna Ellis |
SEATTLE, WA – JLL Capital Markets has arranged $61 million in construction financing for the development of The Preserve at Spring Creek, a 230-unit assisted living, memory care and independent living community in Garland, Texas, a suburb of Dallas.
JLL worked on behalf of the joint venture
sponsor, JAMP Enterprises LLC and Frontier Management LLC, to secure the
15-year, five-year IO, 75% LTC, floating-rate loan through a regional bank.
The JLL Capital Markets team representing the borrower was led by Director Alanna Ellis. Local support was provided by Managing Director Allison Holland.
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| Allison Holland |
The community will be the first of its kind delivered in the sub-market comprised of a 120-unit apartment-style complex as well as 110 additional two-bed, two-bath independent living cottages with 25 acres of private dedicated park space.
The Preserve at Spring Creek will feature
interconnected walking paths that grant access to a selection of on-site
community amenities, including a clubhouse, theater/chapel, salon, bistro, arts
and craft room, billiards room, fitness centers, a mindful studio, numerous dining
venues and multiple gathering spaces.
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| The Preserve at Spring Creek located on 35.5 acres at 2055 Arapaho Road Garland, TX |
The country-club style facility will be located on 35.5 acres at 2055 Arapaho Road offering direct access to the 23.5-acre Spring Creek Nature Preserve.
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JLL, please visit our newsroom.
CONTACT:
Cierra Lacasse, JLL Associate
Public
Relations
Phone: +1 602 648 8701
Email: Cierra.Lacasse@am.jll.com
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