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Southlake Office Project Garners Construction Debt

JLL Capital Markets announced today that it has arranged construction financing for District 114, a four-story, mixed-use office building with ground floor retail totaling 94,990 square feet in Southlake, TX. The amount of the financing wasn’t disclosed.

The JLL Capital Markets team representing the borrower was led by Senior Director De’On Collins and Managing Director Steve Heldenfels. Working on behalf of the borrower, Medici Development Partners LLC, JLL placed the five-year, floating-rate construction loan with Happy State Bank & Trust.

Due for completion in the second quarter of 2021, District 114 will offer 69,878 square feet of office space and 25,112 square feet of retail space. The property will have average floor plates between 24,000 and 29,000 square feet and offer tenants a fourth-floor outdoor patio, a 322-space parking facility and direct access to Texas Independence Park featuring outdoor work and patio space.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).