DALLAS, January 5, 2021 -JLL Capital Markets announced today that it has arranged a $37.5 million refinancing for Hidden Springs of McKinney, a 194-unit independent living, assisted living and memory care community in McKinney, Texas, a growing submarket in the Dallas-Fort Worth area.

JLL worked on behalf of the borrower, a joint venture between CREC Real Estate and Madison Marquette, to secure the non-recourse, fixed-rate loan through a life insurance company. The loan term was five years, inclusive of extension options.

Completed in 2020, Hidden Springs of McKinney was built to a high finish with large units and an array of luxury amenities, including an indoor pool, fitness center, open-air balconies, a dog park, an outdoor covered patio, covered parking and more.

Located at 6421 McKinney Ranch Pkwy., Hidden Springs of McKinney is near the Sam Rayburn Tollway (SH-121) and U.S. 75. The community is approximately 30 miles northwest of Dallas Central Business District and 15 miles west of Frisco.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Joel Mendes and Associate Jason Skalko.

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 and sales 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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Jones Lang LaSalle Inc. published this content on 05 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 January 2022 16:07:05 UTC.