Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
MLG Lands 54th Texas Property
MLG Capital purchased The Jade at Frisco, a 424-unit Class A community in Frisco. Commercial Edge reports that Berkadia originated a $70.5 million Freddie Mac note set to mature in August 2029, while JPI sold the asset. It’s MLG 54th acquisition since 1987.
A team of JHP Architecture and United Structural Consultants broke ground on the project in 2020, and the community opened in March 2023.
Spanning 17 acres, the eight-building community encompasses one- to three-bedroom floorplans ranging between 664 and 1,460 square feet. Community amenities include a swimming pool with cabanas, a parlor, a gym, a conference room, and EV chargers.
Located at 16220 Phoebe Road, the community is some 5 miles south of U.S. Route 380. The Jade at Frisco is inside the 90-acre master-planned The Grove Frisco community—which is slated to include 4.5 miles of trails, as well as five parks.
