Jones Lang LaSalle Inc.
09/19/2024 | Press release | Distributed by Public on 09/19/2024 12:55
Dallas area seniors community changes hands
DALLAS, Sept. 19, 2024 - JLL Capital Markets announced today that it has closed the sale of Firewheel Town Village, a 154-unit seniors housing community in Garland, Texas.
JLL represented the seller, Clearworth Capital, and procured the buyer, Equity Partnership Holdings.
Built in 2018, Firewheel Town Village consists of studio, one- and two-bedroom units with a current occupancy rate of 98.1%. The property features top-quality interior finishes, including sleek granite countertops, glass tile kitchen backsplashes, stainless steel appliances and wood-inspired plank flooring. Community amenities include a heated saltwater pool, clubhouse, TV lounge, full-service salon, billiards room, fitness center and computer/conference center.
The property benefits from a premier location at 5151 N President George Bush Turnpike, offering residents easy access to the Dallas/Fort Worth (DFW) Metroplex. Nearby attractions include Firewheel Town Center, North Garland Crossing, Firewheel Golf Park, Downtown Garland, Downtown Plano and Lake Ray Hubbard.
The JLL Capital Markets team representing the seller was led by Managing Director David Austin, Senior Managing Director Rob Key, Senior Managing Director Greg Toro and Associate Cole Murphy.
"Firewheel Town Village provides an excellent investment opportunity due to its strong occupancy rate and efficient operations," said Austin. "We're excited to have assisted Clearworth Capital in this sale and to see Equity Partnership Holdings continue the high standard of management at this premier community."
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 sales and 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.
For more news, videos and research resources, please visit JLL's newsroom.
ClearWorth Capital is led by Matthew P. Stone, it's Managing Partner and CEO. Throughout his career, Mr. Stone has developed or acquired more than 7,000 apartment units, and in excess of $1 billion in commercial real estate across multiple property types. ClearWorth Capital is seeking value-add multifamily opportunities throughout Texas. For acquisition opportunities, please contact Jordan Tabbert at [email protected].
Equity Partnership Holdings is a privately held real estate investment company with a track record of success in over 50 real estate investment partnerships since 2010. Its core focus is on multi-family properties, where they leverage their expertise to create substantial returns through value-add strategies. With a commitment to delivering strong risk-adjusted returns, Equity maintains a conservative yet opportunistic approach in an ever-evolving market.