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Billingsley Refinances Newly-Built Denton Warehouses
Billingsley Co. obtained a $62.4 million loan from Allianz Life Insurance for the Denton Distribution Center, a newly constructed industrial campus totaling nearly 900,000 square feet in Denton. The fixed-rate note refinances the existing construction debt, a $61.4 million loan from Frost Bank.
JLL worked on behalf of the borrower. The Debt Advisory team was led by Campbell Roche and Kristi Leonard, as well as Jordan Buck and Aaron Craig.
The recently completed project at 3333 W. University Drive in Denton is made up of two buildings. The property is fully leased with five tenants, St. Charles Trading Inc. and Interlake Mecalux to name two. The buildings are 451,384 square feet and 448,386 square feet in size. They were built to accommodate users with space needs ranging from 60,000 square feet to more than 250,000 square feet.
Billingsley has 6.2 million square feet of space in its DFW industrial portfolio.
- ◦Financing
