JLL Capital Markets handles $61 million financing for The Preserve at Spring Creek, a 230-unit senior living community in Garland, TX

 

 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.

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.

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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 CONTACT:

Cierra Lacasse, JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com