JLL Capital Markets closed the sale of the 124-unit Independence Crossing in Plano, Texas
JLL Capital Markets announced today that it has closed the sale of Independence Crossing, a 124-unit, boutique, value-add multi-housing community located in the Dallas, Texas suburb of Plano.
JLL represented the seller. Langdon Street Capital acquired the asset.
Built in 1999, the two-story Independence Crossing offers one- and two-bedroom units averaging 942 square feet. Select units feature stainless steel appliances, contemporary wood-style flooring and fireplaces. Community amenities include a resort-style swimming pool, a fully equipped fitness center, a modern clubhouse, a resident lounge, an executive business center, private yards, a dog park and detached garages.
Situated at 6501 Independence Pkwy, Independence Crossing offers residents convenient connectivity to the Dallas area’s major thoroughfares, including US-75, Dallas North Tollway and SH-121. The property sits just five miles from the largest employment centers in North Dallas, CityLine and Legacy Business Park, and is within proximity to top retail and entertainment destinations, including The Shops at Legacy and Stonebriar Centre. Additionally, the community is adjacent to the Bluebonnet Trail and is near several parks and greenbelts.
The JLL Capital Markets team was led by Senior Managing Directors Rob Key and Roberto Casas and Managing Director Greg Toro and Senior Director David Austin.
“We are excited to expand our portfolio in Texas,” said Matt Steinberg, Director of Acquisitions with Langdon Street Capital. “We have now acquired a little less than 1,000 apartments in under 3 years. We hope to continue to buy more multifamily, in Dallas and Austin, despite the economic uncertainty.”
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 investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
About Langdon Street Capital
Langdon Street Capital (Langdon) is a Los Angeles based full service real estate company that seeks to acquire, manage, develop and finance value-add urban fill real estate through syndication of equity and joint venture partnerships.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
