Zale Properties Gets $50M for DFW Luxury Development
JLL Capital Markets arranged the fixed-rate financing.
apartment complexes to come online in Dallas-Fort
Worth over the next years. Image courtesy of JLL
Zale Properties has received a $49.9 million construction loan for The Grove at La Frontera, a 396-unit luxury multifamily development in Arlington, Texas, public records show.
JLL arranged the four-year, fixed-rate note through Principal Asset Management. Senior Managing Director John Brownlee, Associate Bo Beidleman and Analyst Chad Lisbeth led the JLL Capital Markets team which arranging the financing.
Upon its completion in spring 2025, The Grove at La Frontera will comprise 336 apartments and 60 bungalow-style single-family rental units with one-, two- and three-bedroom floorplans, as well as 10,000 square feet of retail.
Units are expected to feature washers and dryers, stainless steel appliances, walk-in closets, quartz and granite countertops, hardwood floors and private balconies. Common-are amenities are set to include two swimming pools, a fitness center, a clubhouse, coworking spaces, pickleball courts, a community garden, a dog park, a putting green and walking trails.
Located at 8100 S. Collins St., the 25.3-acre site is near Route 287 and Interstate 20, which provide direct access to downtown Fort Worth, Texas, and Dallas. The community will rise in an area with several dining options, entertainment venues and retail centers, such as Mansfield Town Center and Mansfield Towne Crossing.
In 2022, Zale obtained a $58.3 million construction loan for another Metroplex development, a 394-unit community in Rowlett, Texas. JLL Capital Markets secured the financing from Principal Global Investors.
