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Zale Properties Secures $49.9M Construction Loan For Luxury Development In Arlington, Texas

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FINANCED
$49,900,000
Chad Lisbeth
Bo Beidleman

Texas

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Development Site
Financed 01/09/2024
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Property Image
FINANCED

Zale Properties Secures $49.9M Construction Loan For Luxury Development In Arlington, Texas

8100 South Collins Street

See Similar Deals
Development Site
Financed 01/09/2024
Chad Lisbeth
Bo Beidleman
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Development Site
Transaction Type:Loan

A $49.9 million construction loan has been secured by Zale Properties for The Grove at La Frontera, a 396-unit luxury development located at 8100 South Collins Street in Arlington, Texas. The development is expected to be completed in spring 2025 and offers upscale amenities and convenient access to major highways.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $49,900,000
  • Address: 8100 South Collins Street, Arlington
  • Market: Arlington
  • Asset Type: Development Site
  • Size: 25.3 acres

JLL, represented by brokers Bo Beidleman and Chad Lisbeth, arranged the fixed-rate loan through Principal Asset Management for this multifamily project. The lenders provided a four-year construction loan for the luxury development, which will feature 396 units and offer a range of upscale amenities. The property is strategically located with easy access to major highways.

Players

Bo Beidleman
JLL
Bo Beidleman
3 deals$749.1M volume
BROKER
Chad Lisbeth
JLL
Chad Lisbeth
3 deals$125.8M volume
BROKER
Principal Asset Management
Principal Asset Management
LENDER
ZP
Zale Properties
LANDLORD

Details

FINANCED
IMAGE: Mark Zale, Bo Beidleman & Chad Lisbeth DATE: 01/09/2024 ADDRESS: 8100 South Collins Street MARKET: Arlington ASSET TYPE: Development Site ~ ACRES: 25.3 LENDER: Principal Asset Management LANDLORD: Mark Zale - Zale Properties BROKERS: Bo Beidleman (@BoBeidleman) & Chad Lisbeth (@RadChad_) - JLL (@JLL) LOAN AMOUNT: $49,900,000 LOAN TYPE: Construction Loan LOAN TERMS: four-year, fixed-rate NOTE: Zale Properties obtained a $49.9 million construction loan for The Grove at La Frontera, a 396-unit luxury development in Arlington, Texas, scheduled for completion in spring 2025. JLL arranged the fixed-rate loan through Principal Asset Management for the multifamily project with upscale amenities and convenient access to major highways.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$49,900,000.00

Monthly NOI$332,666.67
Monthly Debt Service$315,401.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00