Mary Copeland

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    JLL’s Capital Markets team secured acquisition financing for Frontline Holdings, which bought the 334-unit apartment community in Lewisville from InterCapital Group.

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    The Richman Group of California Development Co. and Level 10 Construction have topped out K1, which includes 220 units and 7,000 square feet of commercial space.

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    The 200-unit property traded for nearly $19 million. The buyer financed the purchase with a $15 million mortgage from Arbor Realty.

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    The new owners, a group of private investors based in California, are set to convert the property into rental apartments and improve the rooftop deck.

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