PLANO, TX – JLL Income Property Trust, an institutionally managed, daily NAV REIT, announced the acquisition of Villas at Legacy, an amenity-rich, luxury garden-style 328-unit apartment community located in Plano, Texas.

Plano, located in Dallas’ prestigious Platinum Corridor, is a main driver of the Dallas-Fort Worth metroplex which continues to make jobs at a rate that is nearly double the national average according to the U.S. Bureau of Labor Statistics. The region boasts a population of 7.4 million, and is home to multiple Fortune 500 headquarters including American Airlines, AT&T, Exxon Mobil, Kimberly-Clark, Dr. Pepper Snapple and Texas Instruments.

The Villas at Legacy apartments are located within the Legacy Business Park, a 2,665-acre master-plotted business, retail and residential community employing nearly 100,000 people. Plano residents further benefit from an brilliant school system, with the A+-rated Plano Independent School District ranked fifth in Texas and 81st in the U.S. by Niche.com. 

“The acquisition of Villas at Legacy further supports our investment strategy targeting well-positioned suburban markets with highly rated schools and strong market fundamentals and demographics,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “This investment brings our aggregate apartment allocation to nearly $650 million, with over 2,500 apartment units, representing just over a quarter of our $2.6 billion, 69-property portfolio.”

The Villas at Legacy offer garden-style units, high-end common area amenities including a business center, picnic area with grills, courtyards, swimming pool, fitness center and coffee bar. 

JLL Income Property Trust is an institutionally managed, daily valued NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

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SALT LAKE CITY, UT – J. Fisher Companies, a Utah-based fully integrated real estate firm, gathered with Millcreek city officials and community partners to celebrate the groundbreaking of Moda Meadowbrook in Millcreek, Utah.

“The Moda Meadowbrook groundbreaking was an exciting event for our companies.  We have spent a lot of time working with local city officials and national partners and consultants putting this project together.  It has been a huge success so far and having representatives from all of these organizations attend the event was a tribute to what is to come.” – Owen Fisher, CEO, J. Fisher Companies.

This mixed-use, affordable apartment project will provide housing to Utah’s workforce that are earning at, or below, 60 percent of area median income (AMI). J. Fisher Co has bought several properties with the intent to develop affordable apartments and improve neighborhoods in the Salt Lake Valley. Their hope is that these new developments will be the beginning of a solution for the housing crisis Utah is currently facing.

“As Utah’s economy and population continue to grow, the unintended side-effect is an increasing pressure on the housing market in general.  This has caused many families to shoulder an outsized burden on the cost of safe, comfortable, and reliable housing.  Our commitment is to continue to promote a diverse community where residents can live and work in their own neighborhoods, without being pushed to the margins.” -Jake Wood, Development Partner, JF Capital.

Moda Meadowbrook will be the ninth development under J. Fisher Companies’ multi-family “Moda” brand. Designed by Tuttle and Associates Architecture, Moda Meadowbrook will include one and two-bedroom options, smart home technology, in-unit laundry, and pet friendly living. Community amenities include a large clubhouse, fitness center, and bike maintenance facilities. Additionally, this 145-unit development is only a five-minute walk from the TRAX Meadowbrook station, which provides quick access to Salt Lake Valley’s employment, shopping and recreation.

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KANSAS CITY, MO – JVM Realty, a leading vertically integrated multifamily real estate investment and property management firm, announced it has bought The Landing at Briarcliff (The Landing), a 340-unit luxury apartment community in the prestigious Briarcliff master-plotted development in Kansas City, Mo. JVM Management will manage the community.

Built in 2015, The Landing is near numerous retail centers as well as Kansas City’s well loved Power & Light District – which includes The Sprint Center, the Kansas City Convention Center, and an array of dining and entertainment establishments – and the city’s CBD district. The community also offers proximity to some of Kansas City’s largest healthcare providers – including St. Luke’s Hospital, North Kansas City Hospital, KU Medical Center and Children’s Mercy Hospital – and is only a 15-minute drive from Kansas City International Airport. 

“We are extremely excited about bringing The Landing into our portfolio,” said Jay Madary, president and CEO of JVM. “This luxury community, which features all of the amenities demanded by today’s high-end renters, is located in a thriving submarket, and the area demographics show there is a significant opportunity for future rent growth. Our industry-leading marketing and cutting-edge revenue management platforms will optimize performance and revenue at The Landing. Furthermore, because JVM owns eight other luxury apartment communities in the Kansas City area, we have achieved real economies of scale in our property management in this market.”

Community amenities at The Landing include a resort-style saltwater pool with entertainment deck; a 3,500-square-foot, 24-hour fitness center featuring fitness classes, personal trainer services, yoga studio, Crossfit room, sauna and locker rooms; and an onsite massage therapy service. The pet-friendly community is surrounded by a nature preserve and also features a clubroom for resident events with catering kitchen and coffee and tea bar, a poolside grilling and dining area, a media room and a game room. Multiple solar panels are used to power the common areas.

The Landing offers one- and two-bedroom apartment homes. The units feature open-concept gourmet kitchens, granite countertops with undermount sinks and designer tile backsplash, stainless steel appliances, wood-look plank floors, and in-unit full-sized washers and dryers. Select homes have spacious private patios and decks.

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