A Dallas apartment builder has gotten funding to start a large Arlington rental community.
Zale Properties’ next project is The Grove at La Frontera, a 396-unit mixed-use community at 8100 South Collins St. at Debbie Lane in Arlington. The company has a track record of apartment developments in Rowlett, Richardson, Plano and Dallas.
JLL Capital Markets arranged a construction loan for the project.
The Grove at La Frontera is under construction and should have the first units ready in about 18 months, said Zale Properties’ Mark Zale. The project will include 336 mid-rise apartments, 60 bungalow-style single-family rental homes and 10,000 square feet of retail.
The rental community will include two resort-style pools, fitness center, pickleball courts, a dog park, a clubhouse with a coffee bar and coworking spaces. The property will have walking trails, a putting green, a community garden and pocket parks.
JLL arranged a four-year, fixed-rate loan through Principal Asset Management to finance the development. JLL Capital Markets’ John Brownlee, Bo Beidleman and Chad Lisbeth arranged the loan.
Zale Properties is also working on an apartment project in Allen that’s part of a mixed-use project. And the builder has a transit-oriented development in Rowlett.
The apartment builder had one of the first rental projects in Richardson’s CityLine development.
Dallas-Fort Worth is the country’s top apartment building market with more than 69,000 rental units under construction at the end of 2023.
