Debt Placement Surges for Value-Add Multifamily Assets

Holly Ridge Apartments is just minutes from the DFW Airport.

ARLINGTON, TX—Continued employment growth and the resulting commercial development are fueling increased activity around the Dallas-Fort Worth area. This type of activity is especially pointed toward multifamily properties, whether being developed or financed. And, value-add multifamily assets with prime locations continue to draw investor and financing interest. Holly Ridge Apartments is one example of this type of asset, located at 2504 Ivy Brook Ct. It has the convenience of being located just minutes from the DFW Airport, Bell Helicopter, Interstate 30 and Highway 360. The apartment community is located in the heart of the metro, offering proximity to a wide variety of entertainment and work-related facilities. The immediate area features well-known destinations such as the Texas Rangers’ Globe Life Park, Dallas Cowboys AT&T Stadium, Six Flags Over Texas and Lone Star Park . Acquisition financing for this 290-unit multifamily asset has been secured, with LegacyTexas Bank providing the loan. JLL’s Capital Markets experts secured the loan in an unclosed amount on behalf of S2 Capital . The sponsor plans to pursue interior and exterior renovations. Executive vice president Mark Brandenburg led the JLL team on the deal. Brandenburg tells GlobeSt.com: “This financing allows S2 Capital to use their value-add expertise to capitalize on revamping this asset, which is located in one of the most sought-after submarkets in the entire Dallas-Fort Worth area.” Holly Ridge has open floorplans with washers and dryers in each apartment, large walk-in closets and private patios/balconies.