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Dallas, Texas — Oct. 19, 2015 — A prime location in Legacy, renowned as one of the country’s top job hubs, drove lender interest to back the Dallas region’s newest project. On behalf of Gaedeke Group LLC, JLL’s Capital Markets experts announced that the firm has secured $61 million in construction financing for the development of One Legacy West, a 327,856-square-foot Class AA office tower. US Bank provided the loan.
Managing Director Tim Jordan and Executive Vice President Mark Brandenburg led the JLL team on the transaction.
“The Dallas/Fort Worth metro area continues to boast some of the top fundamentals for job growth and, in turn, office development,” Brandenburg said. “The Legacy submarket’s rising rents, high absorption rate, and backing from proven sponsorship bodes well for the property’s future performance.”
One Legacy West is next to Toyota and FedEx’s headquarters in Plano’s Legacy submarket, providing convenient access to the area’s highway system and retail offerings. The proposed 14-story tower will feature unique architecture, a two-story lobby, unobstructed views, 1,200 parking spaces, and a reflective pond bordering the property.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory, or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
For more about JLL, visit the firm’s U.S. media center Web page at http://bit.ly/18P2tkv.
