Dallas-Area Storage Development Receives Financing
- Jul 26, 2019
JLL Capital Markets has arranged $6.2 million in financing for the development of Sachse Self Storage, a 91,170-net-rentable-square-foot facility in Sachse, Texas, slated for completion by the summer of 2020. The firm secured the five-year, non-recourse loan on behalf of Central Southwest Texas Development, through Fidelity Bank.
Situated at 7970 Woodbridge Parkway, the facility will be in Sache’s retail and commerce corridor, near Freeway 78, within 27 miles of downtown Dallas. The site is also close to residential areas, with more than 8,000 rental units completed or under construction within a 5-mile radius, according to Yardi Matrix data. The three-story Class A facility is set to comprise 906 climate-controlled units.
JLL Senior Vice Presidents Griffin Guthneck and CW Sheehan, together with Analyst Wes Wallace, secured the funding on behalf of CSW Development. In May, the same team arranged a $32 million refinancing loan for a New Jersey facility on behalf of SROA Capital.