DOLCE TWIN CREEKS, PHASE II
JLJ Capital is excited to announce a partnership with BridgeInvest to provide a senior loan of $45.5 million to Sovereign Properties develop Dolce Twin Creeks, Phase II, a 366-unit multifamily project on 10+ acres in the Dallas suburb of Allen, Texas. Cottonwood Communities, Inc., a publicly registered non-traded REIT has also committed to loan up to $10 million ($55.5 Million Total) for the project.
Borrower has been investing in the multi-family development arena since 2004 and currently has over $200M in equity undermanagement with over 3,000 completed and leased upscale apartments, located across the United States. Borrower has over 10 years’ experience constructing multi-family properties in the Dallas market. Borrower has completed the Phase 1 of the project, adjacent to the subject property, which reached stabilization in 8-9-month timeframe. Borrower has expanded to 5 cities now in the US and has over $5M in verified liquidity and $3.4M in excess personal cash flow.