JPI Secures $94.6 Million Loan From Ray Mathoda For Development Site In Grand Prairie

The property asset involved is a development site located at 4700 Lake Ridge Parkway in the Grand Prairie market. It is designated for the construction of Jefferson Southwest Parkway, which will feature 439 apartment units along with various amenities like a pool and gym. The loan amount secured by JPI for this project is $94,600,000, which is designated for construction purposes.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $94,600,000
• Lender: Ray Mathoda - Anchor Loans
• Landlord: JPI
• Market: Grand Prairie
• Expected Completion: 2027
• Amenities: Pool and gym
• Location: Near Dallas and Fort Worth

This transaction highlights the involvement of Ray Mathoda, representing Anchor Loans as the lender in providing financing for the development. JPI stands as the landlord responsible for the construction and management of the upcoming apartment community in the competitive Grand Prairie real estate market.