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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