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JLL Capital Markets Secures Construction Loan for Garland Assisted Living Community
JLL Capital Markets arranged $61 million in construction financing for the development of The Preserve at Spring Creek, a 230-unit assisted living, memory care and independent living community in Garland.
JLL worked on behalf of the joint venture sponsor, JAMP Enterprises LLC and Frontier Management LLC, to secure the 15-year, five-year IO, 75% LTC, floating-rate loan through a regional bank. The JLL Capital Markets team representing the borrower was led by Director Alanna Ellis.
The community will combine a 120-unit apartment-style complex with a 110 additional two-bed, two-bath independent living cottages with 25 acres of private dedicated park space. The Preserve at Spring Creek will feature interconnected walking paths that grant access to a selection of on-site community amenities, including a clubhouse, theater/chapel, salon, bistro, arts and craft room, billiards room, fitness centers, numerous dining venues and multiple gathering spaces.
The facility will be located on 35.5 acres at 2055 Arapaho Road.
- ◦Development
- ◦Financing
