JLL Capital Markets arranged $14.1 million in acquisition financing for The Arch at Abilene, a 192-unit multifamily community in Abilene, Texas.
JLL represented the borrower, Eastman Residential, in securing the loan.
The Arch at Abilene, located at 2702 N Judge Ely Blvd., features 72 two- and 120 three-bedroom units with high-quality finishes, in-unit washer-dryers and fully responsive HVAC central air systems. The property includes a spacious clubhouse, business center, resort-style pool, fitness center, volleyball court, on-site parking and multiple lounging areas.
Abilene’s economy is diversified across healthcare, education, defense, government, manufacturing and aerospace sectors. Major employers include Dyess Air Force Base with 8,900 employees, which has seen a 75% increase in staff since 2014 and was selected in 2022 to host the new B-21 Raider bomber program. The property benefits from its proximity to the first Stargate project – an over $15 billion joint venture between Oracle, OpenAI, SoftBank, and MGX to advance U.S. AI infrastructure. The first phase includes 10 data centers just four minutes from the site, expected to generate thousands of short-term construction jobs and 1,000-1,500 permanent high-paying tech roles upon completion.
Eastman’s business plan includes targeted interior upgrades and exterior enhancements such as adding a playground and pickleball courts to rebrand the property as an affordable alternative to new construction in the market.
The Abilene multifamily market demonstrates strong fundamentals with a 5.06% vacancy rate and robust rent growth of 9.5% year-over-year, outpacing the metro-wide growth of 6.8% and significantly exceeding five-year and ten-year averages.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Scott Aiese and Director Alex Staikos.
