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Texas  + Dallas-Fort Worth  + Apartments  |  January 9, 2024
Zale lands $57M construction loan for Arlington apartments
Mike Boyd
By: Mike Boyd

Zale Secures Construction Loan for Arlington Rental Units

Zale Properties is using money it secured from a construction loan to build a 336-unit apartment complex in Arlington. Zale received a $49.9 million construction loan for The Grove at La Frontera. Of the 336 units, 60 will be bungalow-style single-family rental units. 10,000 square feet of retail will also be added.

Multifamily News reports JLL arranged the four-year, fixed-rate note through Principal Asset Management. John Brownlee led the JLL Capital Markets team, which arranged the financing.

Upon its completion in spring 2025, expected amenities will include two swimming pools, a fitness center, a clubhouse, coworking spaces, pickleball courts, a community garden, a dog park, a putting green and walking trails. 

In 2022, Zale obtained a $58.3 million construction loan for another Metroplex development, a 394-unit community in Rowlett, Texas. JLL Capital Markets secured the financing from Principal Global Investors.

Read More News Stories About: JLL
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Zale Properties

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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