DALLAS, TX – Joint-venture partners JAMP Enterprises LLC and Frontier Management LLC have secured $61 million in construction financing for the development of a 230-unit assisted living, memory care and independent living community in the Dallas suburb of Garland, TX.
A JLL capital markets team, led by director Alanna Ellis, secured the 15-year, five-year IO, 75% LTC, floating-rate loan on behalf of the partnership through a regional bank. JLL managing director Allison Holland also provided local support for the transaction.
The development, titled the Preserve at Spring Creek, will feature a 120-unit apartment-style complex, as well as 110 two-bed, two-bath independent living cottages. The property will also feature a clubhouse, theater/chapel, salon, bistro, arts and craft room, billiards room, fitness centers, a mindful studio, numerous dining venues, multiple gathering spaces and 25 acres of private dedicated park space with interconnected walking paths.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
