DALLAS, TX – JLL announced today that it has closed the sale of a 13.2073-acre development site zoned for single-family residential in the Dallas-Fort Worth community of McKinney, Texas.
JLL marketed the property exclusively on behalf of the seller and procured the buyer, a team led by Principals Chris Hanson and Dave Bessey at Hanson Equity Partners.
The site is located along Rockhill Road and North Brook Drive approximately half of a mile west of Interstate 75 and 0.2 miles south of Virginia Parkway in McKinney, which is less than an hour northeast of downtown Dallas. The buyer plans to develop 125 for-rent homes in an estimated $30 million project that will be named Legacy at McKinney.
The JLL Capital Markets team representing the seller was led by Executive Vice President Jorg Mast and Managing Director Michael Swaldi.
“We’re really excited to bring this new luxury housing concept to the McKinney area,” Hanson said. “While we've been active in the Dallas market and currently own 45 properties around the DFW area, this was our first time working with JLL and we cannot speak highly enough about the team’s professionalism and assistance in getting this transaction closed.”
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL: JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com