394-Unit Multifamily Property To Be Built at Lake Ray Hubbard
Rowlett will be the home of the View at Sapphire Bay, a mid-rise multihousing community. JLL represented the borrower, Zale Properties, to secure the $58.3 million, eight-year fixed-rate construction loan through Principal Global Investors.
When it’s done in May of 2024, the five-story complex will take it’s place within the 116-acre Sapphire Bay development, overlooking a manmade lagoon.
The units will average 941 square feet and feature the latest in quality indoor amenities. Community amenities will include game rooms, resort-style pool, grill house, fitness center and a landscaped picnic area.
Downtown Rockwall, and its extensive retail offerings are just across the lake from the project.
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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