JLL Capital Markets has arranged the refinance of The Jones, a 224-unit, garden-style apartment community within the Dallas-Fort Worth area in Arlington, Texas.
JLL represented the borrower, WindMass Capital, to secure a floating-rate loan through Benefit Street Partners. This refinance marks the beginning of a new relationship between both parties.
Built in 1977, the two-story apartment community features studio, one-, two- and three-bedroom units with balconies/patios, spacious walk-in closets, central air and heating, dishwashers, refrigerators and washer and dryer connections. The property is currently amid a capital improvement initiative, with renovations completed on nearly 50% of the units, as well as all building exteriors, and the construction of a new leasing office.
Situated at 2109 Lincoln Drive, The Jones offers residents excellent access to the area’s major thoroughfares, Highway 360 and Interstate 30, and is a 25-minute commute to downtown Fort Worth and downtown Dallas. Proximate neighborhood amenities of the property include AT&T Stadium, Texas Live!, Globe Life Field, Texas Rangers Golf Club, Lake Viridian and numerous shopping and dining options.
The JLL Capital Markets Debt Advisory team was led by Managing Director Kris Lowe and Director Kristi Leonard.
